The future of the Austrian is not yet known, and GPToday.net has learned from high-level sources that Wolff is evaluating his future beyond his current contract.
Wolff currently owns 30 per cent of the Mercedes F1 team, while Niki Lauda owns 10 per cent. It is believed that Wolff's shareholding in the team is subject to a 'pull' option, which would allow Mercedes to acquire the combined 40 per cent of shares.
Mercedes CEO Dieter Zetsche will soon step down from his role to be replaced by Ola Kallenius. According to Mercedes insiders, Kallenius and Wolff have an unsavoury relationship, which could lead to complications down the line.
In Baku, Wolff didn't deny that his contract expires after the 2020 season and also confirmed that he is evaluating his future commitments. He also refused to comment further on his relationship Kallenius.
Liberty Media's CEO and chairman Carey is also rumoured to be stepping away from his position as the company's CEO, all the while retaining his role as chairman.
This would open up a spot for a new executive to come in, with Wolff high on Liberty's list of suitable replacements.
Carey is believed to be tied down by a three-year contract that expires at the end of 2019, however that may be extended in light of Liberty's work with F1 to finalise the overhaul of regulations for 2021.
A Formula 1 spokesperson declined to comment on the situation.
Bahrain International Circuit - Winter testing