Lewis Hamilton Mercedes
Lewis Hamilton – Image Credit – GIUSEPPE CACACE/AFP via Getty Images

Apparently, Lewis Hamilton has been taking a lot of time to confirm his stay with Mercedes for a few more years. But he always made it clear that as long as he and Toto Wolff are tight, he will not leave Mercedes. Hamilton’s contract is set to end after this season. So, for a long time, it has been a hot topic of discussion whether the seven-time champion is willing to change teams or stay with his decade-long team.

Lewis Hamilton is at the twilight of his career and can no longer wait to get a car that helps him win the coveted eighth title. But Mercedes has been clearly struggling with their car for a while now. Hence, Toto Wolff made it clear that he wouldn’t hold any grudge against Hamilton if he ends relationship with Mercedes in the next two years. As long as the team keeps struggling to provide him with a car that wins races, let alone a championship. On top of that, Ferrari showed interest in signing Lewis Hamilton after this season. So, whom will the Briton choose? Own team Mercedes or the Ferrari? It seems the Mercedes boss Toto Wolff and the seven-time champion are finally done with the negotiations for extending the contract to another couple of years.


Lewis Hamilton- Mercedes Contract Announcement Coming Soon

Mercedes. Toto Wolff and Lewis Hamilton
Mercedes Toto Wolff Lewis Hamilton Source: The Independent

Finally, after months of speculations and rumors, it looks like the German Team and the British driver has come to a decision. As per reports from Sergio Rodriguez of UF Journal, Lewis Hamilton has finally signed an agreement with Mercedes. Reportedly, the seven-time champion racer has signed a 1+1 contract with the Silver Arrows. Hence, Hamilton with stay with Mercedes till the 2024 season but will have the option to extend it to the next year with a mutual agreement. This information from the UF Journal indeed brings relief to the fans of Mercedes as well as Hamilton.

There is no confirmation from any of the parties involved as of yet. Although there is other information regarding the contract between Mercedes and Hamilton. Nobody knows for sure, but Lewis Hamilton is set to take a huge pay cut in the deal. Currently, he earns 40 million pounds but is ready to sign a deal that will make him earn less. Toto Boss had previously said that he would talk with Hamilton in a few days before the Canadian Grand Prix about the contract extension. And looks like the deal is done now.

Did Hamilton Take A Paycut Along With One Year Extension With Mercedes? 

Lewis Hamilton Mercedes
Lewis Hamilton Mercedes Source: Sky News

As per Forbes, Lewis Hamilton currently has a contract worth $55 million a year. However, his rival and current champion, Max Verstappen, receives $70 million annually. Although if the news is accurate, then the seven-time champion will go through a reduction in his salary. Fans can ask why this drop in the value of the contract. It is primarily due to the drop in Mercedes’ performance over the last couple of years. That is the reason why Hamilton has accepted a cut in pay. There is no confirmation of the report yet. But Mercedes will make an announcement soon.