Toto Wolff admits contract talks taking place

Toto Wolff has backed Niki Lauda's claim that the Mercedes bosses are set to stay at the team beyond 2017.

F1 legend, team chairman and co-owner Lauda revealed last week that talks are taking place that should see both himself and Wolff retained until 2020.

"My salary for the work I do is €750,000 (£678,500)," he told Osterreich.

"It is now being renegotiated with new contracts. Of course there are championship bonuses but in my case they are quite modest - they are not in the millions."

In Hockenheim for the DTM finale, team boss and fellow Austrian Wolff confirmed Lauda's claims to Speed Week.

"We are negotiating our contract extensions and it should all be done soon," he said.

The 2016 F1 championship continues on Sunday with the United States Grand Prix.