F1 has been engaged with teams for some time over the new commercial agreement that will replace the Concorde Agreement for 2021, with the existing terms expiring at the end of the year.
Teams have been pushing for a more equitable distribution of revenue and changes to the governance process in F1, but not all are happy with where the proposals currently stand.
Wolff made clear last week that Mercedes was not in a position to sign the terms on the table, and said most teams wanted the agreement “cleaning up” before committing.
F1 responded by stressing it would “not be delayed any longer” in getting the terms finalised and the new Concorde Agreement in place.
An early-sign deadline of August 12 had been set by F1, but this has now been pushed back to August 18. Teams receive a financial bonus if they put pen to paper by the early-sign deadline.
The final opportunity for teams to sign up for the Concorde Agreement remains on August 31.
Asked by Motorsport.com what would happen if Mercedes did not agree terms by the early deadline, Wolff said he did not foresee it causing any issues.
“I think what FOM wants to achieve is that it’s not being dragged out any further,” Wolff explained.
“They’ve set that deadline, and made it clear that we’ve got to get on and sign…