Mercedes team principal Toto Wolff did a u-turn from his opinion earlier in the Silverstone by saying that the reigning Formula 1 champions will sign a new deal with commercial rights holder Liberty Media.

In a video conference at the Spanish Grand Prix, Wolff said that Mercedes have decided to move forward with Liberty after saying at Silverstone that they have decided not to sing a Concorde Agreement covering the period from 2021 to 2026.

“I have changed my opinion in Silverstone,” he said. “I don’t think that the teams will ever be united. Everybody tries to achieve some little deals outside, there is a blame culture in the media, so we have decided to move forward with Liberty.”

Wolff said that the team had constructive talks with F1 Chief Executive Chase Carey last weekend. “I feel we are at a good point to sign the Concorde Agreement and move on,” he added.

However, he remained guarded on his own future as Team Principal at Mercedes, of whom he is also a shareholder. “There are many factors that make me want to stay in Formula One,” said Wolff. “On the other side, it takes a toll and it plays into my consideration.

“As it stands, there is no reason not to continue with Mercedes and we will find out in which role.”