Lewis Hamilton is expected to sign a new Mercedes contract this winter – but not the £62m per year deal that has been speculated in recent days.
The Brit, who turned 38 earlier this month, intends to continue his Formula 1 year beyond his current contract. That deal expires at the end of this year, but Hamilton has already made it clear he wants to put pen to paper on an extension.
Reports from France have this week claimed that a deal worth £62m per year has been offered to Hamilton. That would represent a salary rise of £22m per year and see him become comfortably the best paid driver on the grid – dwarfing Max Verstappen's mega-money Red Bull deal.
However, when you begin to look at the situation, holes in that story begin to appear. For example, Toto Wolff made it clear last year that, even though F1 does not currently have a salary cap, he believes Hamilton and Verstappen are paid too much – so the Austrian is unlikely to sanction another pay rise.
Most importantly, though, is the fact that Hamilton and Wolff have spent much of the winter not even on the same continent. The seven-time world champion has been travelling during his time off, including a spell in Antarctica.
Wolff even said last week : "We have a full year to go. In the last 10 years our relationship has grown that it's just a matter of him physically being back in Europe, sticking our heads together, wrestling a bit and then leaving the room with white smoke after a few hours."
So, talks have not even begun between Hamilton and Mercedes over a new contract. And the Silver Arrows have made that clear in a new statement addressing those eye-catching rumours of that huge salary being offered.
"Obviously, the winter doesn't stop the rumour mill, and it's been entertaining to read speculation about contract discussions when they haven't yet begun," a spokesperson said.
"The rumours seem to have started on a French blog, Sportune, with which we don’t have a relationship – and are pretty wild in terms of what they suggest! Toto stated on record last Friday that discussions haven't yet begun, and that's exactly the situation."
