P1racenews AI automatic summary:
Lewis Hamilton has reportedly agreed the salary and length of his new Mercedes contract – but there’s still one problem.
The seven-time F1 champion, Lewis Hamilton, has been in negotiations throughout the year regarding the extension of his contract, which is set to expire at the end of 2023. Despite both Hamilton and team principal Toto Wolff insisting that an agreement is imminent, the contract has not yet been signed. According to The Sun, the agreed salary is likely to be around £50m per year, which would make Hamilton the highest-paid driver in F1, surpassing Max Verstappen. The duration of the new contract, reportedly agreed upon, is expected to be two years. However, there is a sticking point regarding the amount of time Hamilton will be contractually obligated to be available for Mercedes’ sponsors. Hamilton is willing to play hardball in this matter, as he believes it is crucial for him to have autonomy over his time. Both Hamilton and Wolff have not provided any updates on the contract saga at the F1 Dutch Grand Prix, and it seems that discussions on the contractual obligations related to sponsorship activities are ongoing.
Source: Crash.net
