Author: Barkha Roy
Mercedes team principal Toto Wolff provided an update on Lewis Hamilton’s contract negotiations, stating that a solution could be reached before the next Canadian Grand Prix. The six-time world champion has six months left on his £40 million per season contract with Mercedes, but both parties are close to finalizing new terms.
In an interview with CNBC’s Squawk on the Street program in New York, Wolff expressed optimism about the ongoing negotiations. He mentioned that discussions were progressing well and that an agreement could be reached in a matter of days rather than weeks. Wolff and Hamilton are expected to meet in the next few days to discuss the details of the contract further.
The Mercedes team principal emphasized the importance of keeping Hamilton, calling him the most significant figure in the sport. Acknowledging Hamilton’s impact on and off the track, Wolff emphasized his desire to keep him in Formula 1 for as long as possible. He highlighted the strong relationship between Hamilton and Mercedes, which dates back to their joint arrival at the team in 2013, and which has developed into a professional and personal friendship over the years.
Hamilton’s contract extension is expected to be a multi-year deal that will probably extend his Formula One career beyond his 40th birthday. Despite a challenging start to the 2023 season and trailing Red Bull Racing’s Max Verstappen by 83 points, Hamilton remains hopeful of securing his record-breaking eighth world title. Mercedes’ recent performance improvements have given him renewed confidence, although Wolff warned that the team must manage its expectations as the competition remains fierce.
Although Hamilton’s contract negotiations have been the subject of speculation and rumors, both the driver and the team principal have consistently expressed their intention to reach an agreement. Reports suggesting the interest of other teams in Hamilton, such as Ferrari, have not stopped discussions between Hamilton and Mercedes.
With Mercedes striving to close the gap on Red Bull Racing’s dominant position on the grid, resolving Hamilton’s future is crucial for both parties. Fans are eagerly awaiting the outcome of the negotiations, as they look forward to Hamilton’s continued presence in Formula 1 and his quest for more world championship titles.