Lewis Hamilton will make a move to Ferrari in 2025, leaving behind his long-standing association with Mercedes after more than ten years.
Toto Wolff, the team’s principal and co-owner, has revealed how the business side of the Mercedes F1 team will adapt following Hamilton’s departure.
In addition to securing six out of his seven F1 championships and achieving the highest number of grand prix wins in history, Hamilton has brought significant financial benefits to Mercedes through his fame and personal brand.
Mercedes not only bids farewell to the greatest F1 driver ever, but also one of their most financially lucrative assets.
When asked about the potential impact on sponsorships and merchandise sales once Hamilton joins Ferrari, Wolff acknowledged that Hamilton represents much more than just a racing driver.
He is a global phenomenon, and it is evident that his absence will leave a void. Wolff stated, “At first glance, it’s clear that there will be something missing after 24. We will feel that loss.”
However, Wolff expressed confidence in Mercedes’ ability to maintain its identity even without Hamilton. He emphasized that the team needs to have its own distinct character, and they will continue to do so in the future.
Mercedes hopes to be a part of the careers of many young and successful drivers moving forward. They will look back on their journey with fondness and pride in their growth together.
Regarding Mercedes’ high-value brand partners, Wolff emphasized that the story of Lewis Hamilton and Mercedes is essentially the same. They have been together for 12 years, and their partnership has been built on adaptability and managing performance under pressure.
As the final year of Mercedes’ partnership with Hamilton unfolds, Wolff highlighted the importance of remembering that they are the Mercedes Formula One team. They are now focused on identifying the next step beyond 2024.
According to the Source formula1news.co.uk