Lewis Hamilton is reportedly demanding a five-year contract worth £250million to commit his future to Mercedes.
Hamilton's existing deal expires at the end of the 2023 campaign and there has been speculation he might leave Mercedes for a rival manufacturer. Mirror Sport understands that the seven-time champion is happy to stay with the Silver Arrows, but that an announcement is still some way off.
The 38-year-old has remained tight-lipped about his future, while Mercedes chief Toto Wolff has made it clear that he believes it is just a matter of time until an agreement is reached. A reason behind the delay may be that Hamilton wants a five-year contract, according to The Daily Mail.
He reportedly wants to race on to the age of 43 and would expect a deal which earns himself £250m over that period. Hamilton has grown weary of the speculation around his future.
“I’ve nothing more to say on the contract side,” he said in Montreal ahead of the Canadian Grand Prix this weekend. “If it’s next week or next month it really doesn’t bother me. I’ve seen Toto. We have talked several times. We’ve got a great relationship.” Pressed on whether there had been progress, he said: “Yes. Nothing new to report.”
Speaking to Sky Sports earlier in the week, Wolff said: "When we're still talking, we get this question basically every race weekend. We've such a good relationship that we dread the moment we need to talk about money! So, it's going to happen soon."
Wolff was then asked for a timeframe. He said: "Soon, I think we're talking more days than weeks. He's the most important personality in the sport. He's so multifaceted, not only the racing but also off-track. We need to keep him in the sport for as long as possible."
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He added: "It is going to happen soon, and we are talking more days than weeks. From a team's perspective, Lewis and Mercedes have gone back a long time. He has never raced for any other brand than Mercedes. We both joined the team in 2013 together, and from a professional relationship, we now have a friendship. It has been a wonderful time."
Mirror Sport understands that no announcement is planned by Mercedes, who will instead focus on performing in Montreal this weekend. The Silver Arrows have been a long way behind Red Bull in the season so far, with Max Verstappen dominating from the outset.
The Dutchman has a sizable lead in the drivers’ championship, with his Red Bull team-mate Sergio Perez in second and Aston Martin’s Fernando Alonso in third, ahead of Hamilton and George Russell. Mercedes will undergo first practice in Montreal on Friday ahead of qualifying on Saturday and the race on Sunday.
