In the fast-paced world of Formula 1, negotiations surrounding the future of Lewis Hamilton have become a nail-biting affair. With the 38-year-old’s contract set to expire at the end of the 2023 season, both the driver and Mercedes find themselves at odds over the terms of their partnership.

Diverging Views on a Long-Term Deal with Lewis Hamilton

Sources close to the matter have revealed that Hamilton desires a long-term contract that guarantees his bonus income. Currently, the seven-time champion’s contract with Mercedes is worth £27.5 million per year, with an additional £15 million bonus for winning the championship.

In contrast, his team appears inclined to offer a one-year contract with the option for a second, leaving both parties in search of a compromise that would secure their ongoing collaboration.

The Role of a Brand Ambassador

One major point of contention arises from Hamilton’s aspiration to serve as a Mercedes brand ambassador for a decade, commanding a substantial annual fee. While the Briton envisions a £20 million per year agreement, team officials are hesitant to concede to his ambassadorial demands.

Negotiations have reached an impasse as both sides aim to protect their interests while maintaining a fruitful relationship.

Uncertainty Looms Over the British GP

As the F1 season unfolds, the British Grand Prix at Silverstone looms ahead, potentially marking Hamilton’s last race as a Mercedes driver at the event. Despite initial assurances from team boss Toto Wolff about an easy contract extension, negotiations have persisted for seven months, causing speculation and anticipation to mount.

The Road to Agreement

Both Mercedes and Lewis Hamilton are keen to prolong their partnership, but compromises must be made to reach a satisfactory resolution. The pressure is mounting on the former champ to reassess his demands in order to facilitate a contract signing.