Lewis Hamilton admits Ferrari interest as he provides contract update

Lewis Hamilton was declared as the 21st highest paid athlete in the past 12 months by Forbes.

Seven-time World Champion Lewis Hamilton is seemingly edging ever closer to signing a contract extension with Mercedes, with the Briton having admitted that whilst he hasn’t signed any paperwork yet, a new deal is something himself and the team “are working on”.

His current deal is due to expire at the end of this season; however, it’s believed that his new deal will be a multi-year contract, taking him to the end of 2025 with the Silver Arrows.

This would see his new deal expire right before the new power unit regulations are introduced, a time when the pecking order could change once again, just like it did in 2022 when the aerodynamic regulations were heavily changed.

Given that Hamilton is one of the richest athletes on the planet, many have wondered just how much his new contract will be worth, especially after his earnings from the past 12 months were revealed by Forbes.

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From May 1 2022 to May 1 2023, Hamilton was the 21st richest athlete in the world, thanks to having earned £52 million.

£44 million of that came from F1, giving a rough indicator of how much his new deal will be worth.

What’s remarkable is that Hamilton earned £44 million from racing in the past 12 months despite having endured the worst season of his career, meaning he could be set to earn even more should he get himself back on the rostrum consistently.

He’ll be hoping that Mercedes’ incoming new concept will allow him to race at the front amongst the likes of Max Verstappen, in a bid to push once again for an unprecedented eighth World Championship.

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Whether the new concept does allow him to battle Verstappen or not, he doesn’t look set to be switching to another team anytime soon in order to chase that elusive eighth crown, with the Briton admitting that Mercedes “is my home”.

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“I’d be lying if I said I’d never thought about ending my career anywhere else,” Hamilton said.

“I started at McLaren, I’d like to think I’ll always be a part of the McLaren family. I started there when I was 13 years old [as a junior driver], so I thought about what it would look like if I was at McLaren one day.

“I thought about and watched the Ferrari drivers on the screens at the track and of course you wonder what it would be like to be in red… But then I go to my team, to Mercedes, and this is my home. I’m happy where I am. I haven’t signed a contract yet, but we are working on one.”