With November just days away, Toto Wolff has explained why he and Lewis Hamilton are still yet to re-sign at Mercedes beyond 2020.

Given the relationship the two men have built since 2013, there has been speculation that the respective futures of Wolff and Hamilton could be entwined.

At the same time though, both have made it clear they intend to remain at Mercedes, albeit Wolff has hinted at altering his role within the team.

And the Austrian insists it is all a matter of time.

“We simply don’t have time to sit down and have a chat,” Wolff said via Crash.net.

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“It is the same is for my own contract, things are happening in the background and are being negotiated but it is not so simple because there is a shareholding and how we are continuing.

“It’s clear from the Daimler side and from my side that we want to continue to work with each other in the partnership we have.

"And for Lewis, I guess he wants to be in the quickest car and would like to have the quickest driver in our car, so it seems pretty obvious. We just need to find the time and sit down.”

Given Wolff's entrepreneurial expertise, it has been suggested on several occasions he could look to one day take over the Brackley-based team or create his own separate outfit.

“First of all it’s not a great omen, I think. You don’t want to call it Wolff," he told the Beyond the Grid podcast.

“There is no product ‘Wolff’ that I could endorse like some other companies, and I think with the partner, Mercedes-Benz, I am really staggered every time I think about it.

“There are not many people out there that can say they are a partner with Mercedes-Benz.

“I’ve been doing this for a few years now, my relationship with the Daimler management is more than intact, so I don’t see any sense in running a Toto team because the power of the brand of Mercedes is so strong. I feel honoured to represent them.”