Mercedes break silence on Lewis Hamilton’s rumoured salary hike

Lewis Hamilton has been linked to a multi-year contract worth £62 million per season, to keep him in the sport until 2025.

Following a number of reports and speculation, Mercedes have insisted that the rumours regarding Lewis Hamilton’s pending contract are “wild” and “completely unfounded”, with the British driver having been linked to a jaw-dropping deal.

According to sports business outlet Sportune, Hamilton’s new contract with the Silver Arrows is set to cover 2024 and 2025, with the 38-year-old reportedly going to earn £62 million per season.

If true, this would see the seven-time World Champion reclaim the spot as the highest paid driver on the grid, after being surpassed by Max Verstappen in 2022.

The deal would see the British driver receive a £22 million pay rise; however, it won’t include a bonus for winning the World Championship.

READ: Will Lewis Hamilton ditch Mercedes for a rival team after 2023?

Mercedes boss Toto Wolff is supposedly waiting for Hamilton to return from holiday so that contract negotiations can begin, with the Stevenage-born driver having been enjoying a vacation in Antarctica.

Only then will the “wild” rumours be confirmed as true or not, when official details about the contract are unveiled.

A Mercedes spokesperson actually revealed that what has been said isn’t true, with talks having not even started.

“These are wild speculations. Completely unfounded,” the official told the German news agency SID.

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Some of the speculation regarding Hamilton’s potential deal also include an additional 10-year contract with the Daimler Group, who own Mercedes-Benz.

Reportedly, Hamilton wants to remain with the Germans as an ambassador once he retires, should he receive £22 million a year.

The huge contract, though, is reportedly not actually going to be paid by Mercedes completely, with one of the team’s biggest partners set to pay 90-percent of the deal.

One third co-owner, Sir Jim Ratcliffe, who owns Ineos, is supposedly going to pay the vast majority of the contract, with Ratcliffe and Hamilton being “partners”.

READ: Guenther Steiner breaks silence on Mick Schumacher joining Mercedes

“Jim’s part boss but partner – I’d say we’re more partners because we’re in this together and I hope in future to do something with Jim and build with him,” Hamilton recently said.

Hamilton holds an interesting relationship with Ratcliffe, with the 103-time Grand Prix winner having been part of a consortium led by the billionaire to buy Chelsea Football Club.

Whilst their bid failed, Hamilton is again being reported as being part of another consortium led by Ratcliffe, but this time it’s to buy Manchester United.