Fast Five: Wolff confirms Hamilton's Mercedes contract, Vowles to rebuild "out of date" Williams team, and other big updates

Wolff confirms Hamilton's Mercedes contract

Lewis Hamilton joining Ferrari for $48 million was a hot rumor, given that his contract with Mercedes is ending. However, Mercedes dismissed the rumor, stating that they will extend Hamilton's contract. They believe he is a valuable asset due to his skills, motivation, and determination. It is also suggested that Hamilton should stay with Mercedes to enjoy post-retirement benefits as a brand ambassador. 

Click here to read the full article by Saajan Jogia (si.com)

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Vowles to rebuild "out of date" Williams team

Williams chief James Vowles is rebuilding the underperforming Formula 1 team and revealed that some facilities are "20 years out of date" due to years of underinvestment. Vowles emphasized the need for both equipment and staff to evolve to meet the highest standards in F1. The team has embraced his approach and acknowledges the need for change. However, Williams will require assistance from F1 and the FIA to invest in infrastructure outside of the cost cap. Vowles has found support in his efforts, and a solution is expected to be approved soon, allowing teams like Williams to invest more and catch up.

Click here to read the full article by Filip Cleeren & Roberto Chinchero (motorsport.com) 

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Teams rejecting billion-dollar offers to sell F1 spot

F1 CEO Stefano Domenicali reveals high interest in buying F1 teams, with offers reaching billions. While new teams are considered, Domenicali emphasizes the need to respect existing competitors. The evaluation process will determine if new teams are admitted, including discussions on the Concorde Agreement and future commercial terms. Safeguarding stability for current teams is a priority, ensuring financial sustainability and fostering a competitive field. The value of F1 teams has significantly increased, with offers surpassing billions, highlighting the growth and strength of the F1 business ecosystem.

Click here to read the full article by Keith Collantine (racefans.net) 

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Audi falls six months behind F1 engine rivals

Formula 1 teams are preparing for the future with new projects and investments. Audi's F1 project is facing a delay of about six to eight months compared to competitors, but they have extra funding and time to catch up. However, there are concerns about the project's readiness, drawing comparisons to BMW's unsuccessful entry into F1 in the past. Some key personnel from the BMW era are involved in the Audi project.

Click here to read the full article on formu1a.uno

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Alonso's surprising bond with Stroll

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Considering the substantial age difference of nearly 20 years between Alonso and Stroll, as well as Alonso's reputation for conflicting with teammates, it was far from guaranteed that the duo would get along well. However, their relationship has blossomed, and the reason behind it is quite remarkable.