As 2021 draws closer, teams will want to finalize their driver lineups at the earliest. Surprisingly, the future of Lewis Hamilton has been a source of mystery so far.

Although it is a near certainty that Hamilton will extend his contract, fans are inquisitive about the timing of the same. One indication has been that possibly after Mercedes and Hamilton seal their respective titles, talks will further speed up.

However, the idea of a salary cap in Formula 1 was being floated about this week. The Mercedes driver believes that that is not a factor in his impending contract extension talks.

Lewis Hamilton had heard about the idea of a salary cap last year

Speaking in the pre-race press conference, Hamilton is quoted as saying, “There’s nothing to do with that, I didn’t even know that that was being discussed. I think from the drivers’ point of view it is a surprise, we obviously heard of the idea a while ago.”

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“I think it was last year in France maybe. But it’s the first that we heard this week,” concluded Hamilton.

Like many sporting leagues across the world, a salary cap could provide a control variable of efficiency. Some suggest that F1 teams have agreed to a driver salary cap framework, in principle. Although the finer aspects of the same are yet to be worked out.

Hamilton’s new contract a matter of duration or price?

Obviously, being the best driver on the grid and world champion comes with a few perks. Hamilton would also expect the remuneration to be in line with the success that he brings home to the team.

From that perspective, there is also a possibility that Hamilton might consider a shorter deal at Mercedes. His other projects could take precedence in the future. This could also see him gradually step away from Formula 1.

Like has been stated already, Mercedes and Hamilton are both focused on achieving their set targets first. Naturally, when they have sewn them up, there will be time to discuss a contract that aligns with the Briton’s future ambitions.