18 January 2023 , 13:30
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Lewis Hamilton may reportedly be inching closer to signing a new deal at Mercedes for an eye-watering amount.
A report from French outlet 20 Minutes suggests the F1 legend has been offered a new £62 million-a-year contract extension. It is £22m more than his current deal, which will expire at the end of the coming season.
Silver Arrows team principal Toto Wolff has remained optimistic regarding Hamilton remaining with the team he's won six of his seven world titles with. "As for contract discussions, we have a full year to go,” the Austrian recently told Sky Sports. "We are so aligned - in the last ten years our relationship has grown.
“It's just a matter of him physically being back in Europe, sticking our heads together, wrestling a bit, and then leaving the room with white smoke after a few hours."
According to the reports the new contract does not include the £22million bonus for Hamilton winning that World Championship, that is included in his current deal. Should he sign the reported new contract then Hamilton will see his base salary increase by that figure, instead of it relying on an eighth world title triumph.
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The deal is also rumoured to include a 10-year ambassadorial role for when he does eventually retire, worth £22m-a-year. Mercedes sponsor Ineos, founded by Sir Jim Ratcliffe, will reportedly pay 90 per cent of the contract.
Lewis Hamilton looks set to extend his successful stay at Mercedes (Peter J Fox/Getty Images)The Chief Executive Officer of Ineos has shown an interest in buying Manchester United and Hamilton, who has previously suggested he would jump at the chance of being involved in a Red Devils takeover bid, may back the billionaire. Hamilton has a strong relationship with Ratcliffe with the 70-year-old a part-owner of his Mercedes team, but the two Brits are also friends and Hamilton has openly said he sees the billionaire as more of a partner than a boss.
"Jim’s part boss but partner – I'd say we're more partners because we're in this together and I hope in future to do something with Jim and build with him," the motorsport icon said. "I don't know where that will be or what that will be, so I can't really say.
"I haven't had a call from him asking if I want to be involved in [a United takeover bid] just yet, but I do want to get more and more involved in teams because I really do believe in black ownership – there is a lack of it in sports – and black equity. Again, there is a real lack of that."
F1 legend Hamilton knows Ratcliffe well and has made it clear he wants to be more involved in sports team ownership (Getty Images)The Glazer family finally put the club up for sale in November after intense pressure from supporters who have been demanding changes for several years. Their statement read: " Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club.
"The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially. As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.”