Revealed: Lewis Hamilton’s agreed salary – and sticking point – in new contract
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The superstar seven-time F1 champion has been locked in negotiations all year to extend the deal that is set to expire at the end of 2023.Hamilton and team principal Toto Wolff have constantly insisted an agreement is a formality yet the contract has not yet been signed.Why are Mercedes going backwards in F1 2023?Video of Why are Mercedes going backwards in F1 2023?The agreed salary is “around £50m a year”, according to The Sun.That sum would restore Hamilton to the highest-paid status, above Max Verstappen, on the list of F1 driver salaries – although contracts frequently carry bonuses for race or championship wins.The duration of Hamilton’s new contract has also been agreed, according to the same report, and is “expected to be two years”.But there is “a sticking point”.The one problem is “the amount of time Hamilton will be contractually obliged to be available for Mercedes’ sponsors”.Hamilton is “understandably willing to play hardball”, the report states.Hamilton or Wolff did not offer any updates on the contract saga at the F1 Dutch Grand Prix. Hamilton suggested it was not worked upon during the summer break.Related F1 Dutch GP driver ratings: A bad day for Logan Sargeant… Hamilton: ‘Redemption’ drive made up for “terrible” qualifying
This claim that Hamilton and Mercedes are negotiating how much time he must dedicate to sponsorship activities was also touted by David Coulthard.Coulthard told the Irish News: “Mercedes will want a certain amount of time from Lewis for their partners. “Mercedes will have sold sponsorship on obtaining access to their drivers.“Some businesses will have signed up with the Silver Arrows because Lewis is there, rather than George Russell. “Perhaps Lewis might be wanting to do fewer days or have fewer commitments?”
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