Toto Wolff insists there is no 'immediate pressure' to secure Lewis Hamilton's signature on a new contract beyond the 2015 season, but admits he would rather it come 'sooner rather than later'.

The 2014 F1 champion's two-year deal with Mercedes comes to an end this year, but ongoing discussions have given rise to speculation that Hamilton could be discussing new terms or considering alternative options.

Despite this, Wolff has always expressed his confidence that Hamilton will join Nico Rosberg in committing his future to the manufacturer, insisting he feels there is no rush to put pen to paper.

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"Contract negotiations need to be done properly and the relationship we have with each other is very solid," he said. "It is a relationship based on trust and transparency and that is exactly how we have these discussions.

"I have no doubt that in the way those discussions are being done that eventually it will come to a point to strike a deal. There is no immediate pressure to make it happen tomorrow, but we want to make it happen sooner rather than later."

Indeed, Hamilton's decision to employ a new entertainment agency to handle his 'brand' promotion over the winter suggests that he is looking to further his status beyond F1. Nonetheless, Wolff believes this is a positive thing for Hamilton and, consequently, Mercedes.

"The way Lewis developed over the last two years, it is amazing. I believe that if a sportsperson is able to judge himself and understand what kind of environment he needs to perform best, you need to leave him. Everybody is different, you can't take your own system and fashion it for someone else.

"Lewis has many interests beyond the race track and I think we need to let him do his thing. The brand Lewis Hamilton is extremely valuable for us. He is a superstar and a celebrity - he adds a lot to F1 and these are the kind of drivers and personalities that we need in F1."