Toto Wolff has tempered expectations for Mercedes' prospects in the 2025 Formula 1 season, making it clear that the team's focus is firmly set on 2026.
After dominating the sport with Lewis Hamilton until 2021, Mercedes has struggled to adapt to the current 'ground effect' regulations.
Hamilton, now 40, has opted to make the switch to Ferrari.
"I don't deny the problems we have been having," Wolff told La Repubblica newspaper.
"But looking closely at the data, you can see that we weren't the only ones in 2024 to have fluctuating performances."
When asked about Hamilton's chances at Ferrari, Wolff had no doubts about his former driver's capabilities.
"When he has a competitive car, Lewis is always the best. We weren't able to guarantee it to him," he said. "We're talking about a driver who can give a lot to Formula 1 and the team that hosts him, I have no doubts about that."
Mercedes has replaced Hamilton with 18-year-old Kimi Antonelli, a move Wolff described as a deliberate effort to avoid a repeat of the mistake he made when Red Bull secured a very young Max Verstappen.
To support Antonelli's development, Wolff has ensured the young Italian will be given time to grow within the team.
"Both Kimi and the team are aware that they should not expect anything before 2026," Wolff stated.
"On that side of the box, Valtteri Bottas has also returned to take a look at Kimi, keep an eye on him.
"If something happens before 2026, it will be a gift," he added. "I would like to see an Italian driver win again – it's been a long time since that happened, and it would be a great story to write."