Toto Wolff provides Lewis Hamilton contract update

Lewis Hamilton is rumoured to be on the verge of agreeing a multi-year contract extension with Mercedes.

Towards the end of last season, both Lewis Hamilton and Mercedes team principal Toto Wolff were very vocal about their confidence in extending the 38-year-old’s stay with the Silver Arrows.

It was expected that at new contract would be negotiated and signed over the winter break, but with now only a couple of weeks to go until pre-season testing starts in Bahrain, nothing has been announced.

Hamilton has expressed his desire to extend his stay at Mercedes and eventually retire with the team, leaving fans confused as to why a new contract has not yet been signed.

Toto Wolff has explained that he was waiting until Hamilton was back in the UK to begin contract talks, at the seven-time world champion spent the winter adventuring around Antarctica to celebrate his 38th birthday.

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With Hamilton now having returned to Europe, Wolff has confirmed that he has started to have conversations with his driver about extending his contract.

“We’ve done a few of these contracts in the past and they change little from iteration to iteration, so it’s not usually complex apart from the obvious terms,” he explained to Autosport.

“We’ve had a first chat. But I don’t want to commit to any timeline, because it’s not important for him nor for us at that stage. It runs a full year, and we’re going to find the right time.”

The Austrian has confirmed that Hamilton still wants to continue with Mercedes despite the delay in negotiations, suggesting that this desire to continue is what makes negotiations so relaxed.

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“We’ve always found good solutions that reflect his value for the team and for the sport, and on the other side, I think Mercedes is the place he wants to be,” he said.

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“These things have never been a contentious point. It’s almost not like a first priority in sitting down, because this is going to be a journey that will continue.”

Ralf Schumacher has suggested that Hamilton could retire from Formula 1 if he is not able to beat his teammate George Russell once again this season, having finished two places behind the 24-year-old in 2022.

He has hinted that his nephew Mick Schumacher could take Hamilton’s seat in 2024, should the Brit for some reason not extend his current contract.