Toto Wolff says Mercedes could cope if Lewis Hamilton decided to switch to Ferrari.

Negotiations over Hamilton's post-2020 contract are set to begin, and both the newly six-time world champion and Wolff have indicated they want to stick together.

But there are also suggestions the top drivers may be able to capitalise financially on the sweeping rule changes for 2021, which could mean rumours of a Ferrari switch for Hamilton will return.

"It's natural that drivers always dream of Ferrari, the most important brand in Formula 1," Wolff told Sky Italia.

"Red is like the sun in Formula 1."

Asked if Hamilton needs to chase that 'sun', Wolff answered: "He does not need it - he needs to win.

"He needs to be with a team and with people who love to work. And his emotion and heart are definitely with Mercedes today."

But Wolff admits it is "possible" that Hamilton, 34, will pursue that Ferrari "dream" for 2021.

"We hope to have the two most competitive drivers in Formula 1," he said. "And he (Hamilton) is our priority today.

"But if he wants to have a look at the market, we have to as well. And there are others that I like," revealed Wolff.