Lewis Hamilton could ink new £50m multi-year deal with Mercedes THIS WEEK to extend his F1 career past the age of 40, reveals Toto Wolff – after interest from Ferrari fell away
- Hamilton confirmed his interest in signing a new deal ahead of the Monaco GP
- The 38-year-old has just six months left on his contract with the Silver Arrows
- Desired multi-year deal could see him racing into his 40s for the constructor
Toto Wolff has put himself on the clock by raising the possibility of Lewis Hamilton signing a new £50million Mercedes contract before this weekend’s Canadian Grand Prix.
‘It is going to happen soon, and we are talking days more than weeks,’ said the team boss of the previously protracted negotiations that leave Hamilton unattached beyond the six months remaining on his current deal.
‘We are trying hard (to get it done before Canada). I will see him today and maybe we will talk about it.
‘We have such a good relationship that we dread the moment we need to talk about money.’ Indeed, Hamilton’s salary demands may have delayed things so far. It is believed he wants to be reinstated as the highest earner on the grid, ahead of double world champion Max Verstappen, who is on some £40m a year.
The 38-year-old Hamilton is also understood to be seeking a multi-year deal, taking him beyond the age of 40, before becoming a Mercedes ambassador when he finally retires from the cockpit.
Toto Wolff (pictured) is confident a new deal will be struck with Lewis Hamilton at Mercedes
Hamilton is set to stay loyal to Mercedes despite difficulties with the car since early 2022
‘Lewis is the most important personality in the sport,’ Wolff told CNBC’s Squawk on the Street programme in New York.
‘He is multi-faceted, not only with racing, but also off track, so we need to keep him in the sport for as long as possible.
‘Lewis and Mercedes go back a long time. He has never raced for any other brand. We joined the team together in 2013, and from a professional relationship, we now have a friendship. It has been a wonderful time.’
Ferrari were interested in signing the seven-time world champion earlier in the season to partner Charles Leclerc. But the Italian team are increasingly in disarray, and Mercedes are 99 per cent confident of concluding the deal – though not necessarily as briskly as Wolff suggested.
The pair shared the stage at Forbes’ 2023 Iconoclast Summit in New York on Monday