Lewis Hamilton is ready to settle for a new contract worth £100m to stay at Mercedes – less than half of a previously reported demand from the seven-time F1 king.
Hamilton is in the final year of his current deal with the Silver Arrows. Contracts talks between the British driver and team boss Toto Wolff are at an advanced stage and an extension could be announced this summer.
The Daily Mail reported ahead of the Canadian Grand Prix Hamilton was demanding a massive deal worth £250million that would see Hamilton remain with the team until he is 43.
A source with ‘knowledge of the protracted negotiations’ told the Mail: “Lewis wants five years, and if it were just a one-year extension I don't think he'd accept it.
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Hamilton has been linked with a move to Ferrari, but the source added: “There is always a lure about Ferrari, but Lewis will probably think that his only hope of winning his eighth title is by staying where he is. Money is not a delaying factor.”
However, a subsequent report by The Sun claims Hamilton is close to penning a two-year contract worth around £50m per season instead.
Earlier this week, Wolff said Hamilton’s contract renewal would be resolved “in days rather than weeks”, adding that he was “trying hard” to finalise terms with his superstar driver.
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Hamilton will start tonight’s grand prix in Montreal from third on the grid having been bumped up a place following Nico Hulkenberg’s grid penalty, which dropped the Haas driver from second to fifth.
Fernando Alonso joins pole-sitter and world champion Max Verstappen on the front row.
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