Lewis Hamilton’s future remains uncertain, with his Mercedes contract set to expire at the end of the 2023 season. The 38-year-old has had discussions with Mercedes about a potential ambassadorial role. However, the two parties don’t seem to be on the same page about what that would entail.
The Brit’s current deal with Mercedes is the second most expensive in Formula 1 behind World Champion Max Verstappen. The current valuation of his contract is £27.5m, with £15 million available as a bonus if he wins the title. Verstappen, on the other hand, earns a guaranteed £42.5 million with Red Bull and is cruising to a third straight World Championship.
Lewis Hamilton Mercedes contract update: World Champ’s future remains up in the air
Toto Wolff suggested back in January that the talks between Lewis Hamilton and Mercedes were a mere formality. He added that a renewal should be made official very soon, with the two parties expected to agree terms. However, that has not been the case and the last seven months have resulted in a deadlock over negotiations.
Mercedes have offered the seven-time World Champion a contract extension of one year with the option of a second. Hamilton, on the other hand, wants a guaranteed income worth his current deal including the bonus. Moreover, he wants to stay on as an ambassador in a 10-year deal worth £20 million per year.
The team does not see it the same way and are not willing to offer him such terms as of yet. Both parties are keen on continuing together, but they will be unable to do so without reaching an agreement over a new contract.
