BUDAPEST, Hungary -- George Russell admits Mercedes "holds the cards" in his contract negotiations for next year and that the past months have been "conflicting" as he awaits news on his future.
Without a contract in place for 2026, Russell's place at Mercedes has been in doubt as team principal Toto Wolff has spoken openly about exploring the possibility of signing Max Verstappen at some point in the future.
Verstappen confirmed on Thursday that he would remain at Red Bull next year, meaning a new contract between Russell and Mercedes for 2026 is expected to be confirmed in the coming weeks.
However, with Russell being directly managed by Mercedes, which signed him as a junior driver in 2017 and paid for his championship-winning seasons in F1's two feeder series, he says he has little sway over when his next contract is confirmed.
"They ultimately hold the cards because of the situation we find ourselves in with the management agreement," Russell said. "So they've had no rush to sign Kimi [Antonelli, Russell's teammate] or I because we've got this longer-term, overriding deal in place.
"But the truth is I've never feared losing my seat and that's not even been on the table once this year, even though, of course, you guys like to make a big deal out of it.
"Maybe 12 months ago I was a bit more anxious and wanted to get something sorted or confirmed for '26, maybe six months ago I felt the same, but now I'm performing better than ever, I still feel I've got more to give.
"I've waited so long and I think now I want to get through this weekend, I want to go on holiday next week and enjoy the break, and there is no time pressure on my side, there's no time pressure from the team side.
"So whenever we come to an agreement, we'll get it done, but it's got to be right both ways."
The unusual situation of being managed by the team he drives for appears to leave Russell vulnerable should Verstappen become available again in the future.
Although the deal with Mercedes has been central to Russell's progress in F1, he said it had put him "at risk" over the past six months while options with Verstappen were being explored.
"I mean, let's say for my whole career until last year, the team have supported me so much and given me such amazing opportunities," he said. "Our goals have been aligned, and what has been in the best interest of the team has also been in the best interest of me.
"Now, of course, these last six months have been a very unique situation where I don't have huge power in that sort of agreement, and maybe the interests were not aligned for some time, which has, of course, put me at risk for these last six months. But then it was my job to perform and reduce that risk.
"So, I don't know, to be honest. I don't wish for it to come to anything like that. I still trust Toto and I still trust in the team that they will always support me as long as I'm performing. So that's what I need to focus on. But of course, for both Kimi and I, these past months have not been the most assuring for our future, and that's just been a bit conflicting."
Asked if a multi-year deal was on the table going forward or just a single-year contract, which would allow Mercedes to pursue Verstappen again for 2027, Russell added: "I mean, it's something we need to think about, what is in the interest of both parties really -- what do I want from this as much as what do Mercedes want?
"It has been obviously a bit of a unique situation we found ourselves in over these last six months. The fact is from my side, I want to win, that is the only thing I care about. More than money, more than number of days of sponsorship, more than anything, I want to win and that for me is the most important thing about my future."