Hamilton’s current Mercedes deal expires at the end of next season but the 37-year-old Briton has signalled his intention to sign a new “multi-year” contract. 

Mercedes team principal Wolff said he expects to thrash out fresh terms with the seven-time world champion over the winter. 

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"We haven't started any talks," Wolff said at the Mexico City Grand Prix.  

"We want to definitely finish the season and then find some quiet time over the winter like we did last time around.”

Wolff added: "He's much more than a driver to us now. And although we're not talking about a career end, it's also important to speak about his role as an ambassador for Mercedes and the many sponsors we have and the implication he can have in our wider universe.”

Hamilton previously expressed doubts that he would continue racing in F1 into his 40s, but he is now set to prolong his career as he seeks a record-breaking eighth world championship after controversially missing out on the 2021 world title to Red Bull’s Max Verstappen.

And Wolff sees no reason why Hamilton cannot continue to perform at the highest level similar to other athletes who are in their 40s, such as Fernando Alonso and NFL legend Brady. 

"You can see today's athletes pushing the boundaries in terms of age,” Wolff explained. 

“For me, Fernando [Alonso] is performing at a very high level and you look, for me, at the best athlete in the world, Tom Brady, on the field being tackled and throwing a ball at 45-years-old.

"As long as you continue to look after yourself and your cognitive sensors, I think he has many more years in him.

"I'm pretty certain that's going to be case here in the team."