Revealed: This is what’s holding up Lewis Hamilton’s Mercedes contract

Reports have suggested when the ongoing contract negotiations between Lewis Hamilton and Mercedes could come to an end.

The ongoing delay in renewing Lewis Hamilton’s contract with Mercedes has raised questions and speculation regarding the future of the seven-time World Champion. 

Despite both Hamilton and Mercedes expressing their desire to continue their partnership beyond the 2023 season, no official confirmation of the renewal has been announced.

Recent statements from team boss Toto Wolff downplayed the seriousness of the contract talks, suggesting that the extension was a mere formality that could be finalised within days. 

However, as another race weekend passes without a deal in place, a report in the Daily Mail sheds light on a possible reason for the delay.

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While Hamilton’s current contract is reportedly valued at £27.5 million per year, significantly less than reigning World Champion Max Verstappen’s £43 million, the report suggests that Hamilton is seeking a new long-term deal that includes a title bonus of £15 million as guaranteed income.

However, it appears that it is not the financial aspect causing the hold-up, but rather the extraneous details.

According to sources, a one-year deal with the option for a second year is on the table, but Hamilton’s request to become a Mercedes brand ambassador on a ten-year deal, including the immediate years after his driving career ends, is causing a deadlock. 

The report indicates that both parties are keen to continue their relationship, but the pressure is on Hamilton to lower his demands.

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Recent rumours suggested a possible seat swap between Hamilton and Ferrari’s Charles Leclerc, with Hamilton joining the Maranello-based team. 

However, both drivers quickly dismissed the speculation, with Hamilton expressing his desire to remain with Mercedes and collaborate with the manufacturer even after his racing career concludes.

During a recent interview in Canada, Hamilton emphasized the complexity of contract negotiations, stating: “We had a good meeting just recently. 

“They’re very complex, contracts. So it’s not just a simple driving contract…You’ve just got to explore all avenues in the sense of how you can continue to expand your partnership with such a great organisation.”

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Hamilton’s success in Formula 1 has been closely tied to Mercedes, having achieved record-breaking accomplishments with their power units and team. 

The suggestion that Mercedes may not be eager to continue their association with Hamilton as a brand ambassador seems contradictory, considering the strong links between them. 

Former World Champion Mika Hakkinen served as a long-term Mercedes brand ambassador after his retirement, and David Coulthard remains a brand ambassador for both Mercedes and Red Bull Racing.