Lewis Hamilton Reportedly Set to Earn $45 Million as Part of New Mercedes F1 Contract

As we inch closer to the start of the season, negotiations between Lewis Hamilton and Mercedes are progressing and taking shape. It has been common knowledge that both parties have wanted to seek a quick resolution, but there were still a few sticking points.

The wage package and length of the contract were cited as a couple of them. But with winter testing fast approaching, the elements of ‘give-and-take’ have had to gather pace in order to provide greater clarity.

According to some latest news, Hamilton and Mercedes have now apparently reached an agreement over both the aforementioned aspects. Seemingly then, an official announcement from the team is all that remains.

Lewis Hamilton could get a two-year or 1+1 year deal with option to renew at end of 2021

A report by Sky Sport Italy states, “It is a question of remuneration and probably of duration, but I expect a two-year or a 1 + 1 with an option for renewal at the end of 2021. As for the figures, I don’t think they are much higher than the last contract.” (translated via Google Translate)

Naturally, as the best driver on the grid, an increase in Hamilton’s wage package would be understandable. However, the report suggests that the figures are not that significantly high compared to his previous contract.

It continues, “There is in fact an aspect to bear in mind, namely that many prominent figures in the Mercedes organization chart have reduced their salaries. In dollars, Hamilton will earn about 45 million a year.”

Hamilton would now want to shift his focus towards achieving the 2021 objectives

Signing that all-important deal would give the 36-year-old some security in the short term. After all, the chance at attaining a record-breaking eighth F1 world championship title is not something that comes along often.

As always, Mercedes and Hamilton would start the season with confidence to get the job done on the track. However, difficult the opponents, their aim has been to win races and titles in supreme fashion.

Thus, the positive signs emanating from the latest reports will give Hamilton’s fans some relief. They could now continue to watch one of the greatest F1 drivers sprinkle his magic in the sport.

MORE – Mercedes Joins Aston Martin and McLaren in Dropping Teaser Bombs on Twitter for 2021 F1 Car