Lewis Hamilton, the seven-time Formula 1 world champion, is reportedly seeking a lucrative five-year contract worth £250 million to continue driving for Mercedes.
With his current contract set to expire at the end of the year, Hamilton has engaged in discussions with team principal Toto Wolff regarding an extension.
However, the 38-year-old is holding out for a substantial deal that would allow him to race until the age of 43.
According to The Daily Mail, it remains uncertain whether Mercedes will agree to such a significant contract for Hamilton.
A source close to the situation revealed that Hamilton is seeking a five-year term and would likely decline a one-year extension.
The source also raised the possibility of a compromise being reached, considering the potential implications for George Russell, who might not want to play second fiddle to Hamilton in the long term.
While Ferrari has always held allure for top drivers, Hamilton is believed to consider his best chance of securing an eighth world title by staying with Mercedes.
Money is reportedly not a primary factor influencing Hamilton’s decision.
Hamilton provided a brief update on his contract negotiations, indicating that there is no immediate rush to finalize the deal.
Describing the contract discussions as complex, he expressed his intention to continue racing with Mercedes for a significant period.
The British driver emphasized the need to explore various avenues to expand his partnership with the renowned organization, emphasizing that reaching an agreement is not as straightforward as it may seem.
Since joining Mercedes in 2013 from McLaren, Hamilton has enjoyed immense success, claiming multiple championships and cementing his status as one of the greatest drivers in Formula 1 history.
Whether he will remain a Mercedes driver next year is yet to be determined, and fans eagerly await the outcome of these negotiations.