Lewis Hamilton says the recent movement regarding Mercedes’ ownership shows the team has a bright future, ahead of his own discussions regarding his next contract.

Mercedes announced British petrochemicals company INEOS as an equal-third shareholder alongside Daimler – which reduced its stake – and Toto Wolff last Friday. Wolff marginally increased his shareholding in the transaction and also committed to another three years as team principal and CEO, and Hamilton says they are encouraging signs for the coming years as he waits to finalize a new deal himself.

“On the super, super plus side, I’m really proud and grateful to see Toto signing,” Hamilton said “He’s such an important leading figure within this team, and the success that we have achieved would not have been possible without him. And so he is such a great figurehead and I think that the team is better for it to have that longevity, and it’s great to see the commitment from Mercedes.

“And then the added bonus of having INEOS, who came in this year and have been a part of our success this year, it’s great to see they’re going to part of this team and help with the stability of this team moving forwards, in growing to be better.

“It’s going to take a big push from us to continue to raise the bar in this organization as I think we’ve done such a great job over these past years, but I think the right people are in the right place and it looks good, the future looks bright for this team, I think.”

Wolff said the key to Mercedes’ success is the way it follows through on the targets and principles it sets out for itself, as he ins ists his shareholding position makes him a part of the team forever.

“It’s always difficult to really say because we respect our competitors a lot and they will be giving it all their efforts, so I can’t really look into what they do,” Wolff said. “But for us we have a good environment, it’s a fun place to be but at the right time there is just the right amount of pressure. We love what we do, we set the right objectives.

“I think we are living our values day to day – it’s all about integrity, morality, pride, determination, and that sums it up. It’s not something you can put on a PowerPoint and say ‘this is how we are’ but it’s something that we have set the standards over the past eight years.”