Mercedes source claims Toto Wolff unhappy with Lewis Hamilton contract demand

Lewis Hamilton is reportedly demanding that his bonus becomes guaranteed income as part of his new contract.

As Formula 1 gets ever closer to the summer break, questions continue to be asked about Lewis Hamilton’s future at Mercedes.

The seven-time World Champion is still currently set to enter 2024 as a free agent, with a deal yet to be agreed with the Silver Arrows.

Hamilton’s future has been one of the biggest talking points of 2023, as a result of so many rumours having circulated.

The latest rumour has come from the Daily Mail, who have been informed by sources that Mercedes aren’t happy with demands being made by the 38-year-old.

Want to work in Formula 1? Browse the latest F1 job vacancies

According to a report by the newspaper, Mercedes are set to offer Hamilton a one-year contract extension, with the option for a second season.

This would see Hamilton remain with Mercedes until at least the end of 2025, ahead of the new power unit regulations being introduced in 2026.

However, Hamilton has reportedly demanded a 10-year ambassadorial contract as well, something Mercedes aren’t prepared to offer.

This isn’t the only stumbling block stopping a new deal from being signed, as it’s been reported that Hamilton wants his bonus to become guaranteed income.

Article continues below

On his current deal, Hamilton earns £27.5 million a year, whilst he’s also entitled to a £15 million bonus if he wins the title.

As part of his new contract, it’s understood that the Mercedes driver wants his bonus to be guaranteed.

Unless Hamilton lowers his demands then there is a chance that he could leave Mercedes; however, both parties are keen to continue their long-term relationship.

Mercedes team principal Toto Wolff has previously revealed that a new contract is just “days” away from being signed, although it should be noted that he said this nearly three weeks ago.

With the British Grand Prix being just around the corner, perhaps Mercedes are waiting for Hamilton’s home race to announce a new deal, something which does make complete sense.

READ: McLaren boss admits ‘conflict of interest’

Hamilton has certainly shown excellent form recently which would make an end of his partnership with Mercedes very disappointing, especially as he’s been performing better than team-mate George Russell.

Since Mercedes introduced the new concept, Hamilton does appear to be so much happier with the car and significantly more comfortable.

It’s still expected that a new deal will be sorted, something which’ll help Mercedes plan for 2024.