Date: 20th February 2017 at 11:15am
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Mercedes non-executive chairman Niki Lauda and team boss Toto Wolff have both signed new deals with Mercedes.

The pair, who are actually stake holders in the Formula One team, have signed new contracts with the German manufacturer right through to 2020.

2020 is when Mercedes current commercial agreement with Formula One Management ends.

Wolff holds a 30% shareholding in the team, whilst Lauda boasts a 10% share.

The remaining 60% is held by Daimler AG and their chief executive Dieter Zetsche told Sky Sports: ‘It’s great news that Toto and Niki have extended their agreements.

Zetsche was quick to praise both Wolff and Lauda for their influence on Mercedes dominant era in Formula One.

Between 2014 and 2016, Mercedes won three consecutive Formula One constructors titles, whilst Lewis Hamilton won the Formula One drivers championship in 2014 and 2015 and team-mate Nico Rosberg pinched the 2016 title.

‘In 2013, we restructured the management of the team with the clear goal of improving our performance. Since then, however, the results have exceeded our expectations.

‘A key factor in this success has been the combination of Toto’s entrepreneurial skills and Niki’s experience. Their renewed commitment gives our programme important continuity for the next four years.’