Formula 1: Lewis Hamilton hopes to agrees new contract with Mercedes AMG Petronas F1 Team

Lewis Hamilton wants his contract for next season to be sorted by the mid-season break in August. Photograph: DPPI/LiveMedia/Shutterstock
Lewis Hamilton wants his contract for next season to be sorted by the mid-season break in August. Photograph: DPPI/LiveMedia/Shutterstock

Formula 1, Lewis Hamilton – Mercedes AMG Petronas F1 Team contract: Seven-time Formula One world champion Lewis Hamilton hopes to agree on a new contract with Mercedes before the sport’s August break.

The 36-year-old Briton is out of contract at the end of this season, after his latest one-year extension was announced only in February, but has said he plans to continue.

“We never want to be in the position that we were in January, in February. It ruined my whole winter and I’m sure it wasn’t helpful for Toto’s,” said the championship leader, referring to team boss Toto Wolff.

“Naturally we don’t have to rush anything but I think we have to be sensible and start conversations,” he added after winning Sunday’s Spanish Grand Prix.

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“They’re very complex, it’s never a super simple procedure and so hopefully soon we can start, as long as it doesn’t interfere with the actual job. We still have 19 races to do but it would be great to get something in place before the break.”

Formula One has its European summer break between the Hungarian Grand Prix in Budapest on August 1 and the Belgian race at Spa-Francorchamps on August 29.

Wolff said on May 1 that he hoped to start contract talks soon after Hamilton, now 14 points clear of Red Bull’s Max Verstappen, signalled he was keen to continue racing.

Formula 1, Lewis Hamilton – Mercedes AMG Petronas F1 Team contract: All you want to know about Mercedes F1 team

Full Team Name Mercedes-AMG Petronas F1 Team
Base Brackley, United Kingdom
Team Chief Toto Wolff
Technical Chief James Allison
Chassis W12
Power Unit Mercedes
First Team Entry 1970
World Championships 7
Highest Race Finish 1 (x109)
Pole Positions 121
Fastest Laps 78

 

Formula 1, Lewis Hamilton – Mercedes AMG Petronas F1 Team contract: How much does he earn?

According to F1 Insider, the British driver will take home approximately £34million a year with the Mercedes team. This is the same as his previous deal.

While this is only a one-year deal, it’s believed there’s an option included for a second year.

One of the perks Hamilton was able to negotiate for himself is that he can now market two advertising places on his own helmet, as well as on himself.

Note: The Story was originally published by Reuters