Veto Power and 2 Year Contract: Lewis Hamilton and Mercedes Reportedly Reach ‘Basic Agreement’ on F1 Deal

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February 3, 2021 12:12 pm

It has been a wild ride for Formula 1 fans even before the season kick-started, with Lewis Hamilton ruling the spotlight. The uncertainty over his contract decision with Mercedes is still persisting, as the final deadline is inching closer.

However, the wait could finally end soon, as rumors claim that the seven-time world champion and his longing team have consolidated over basic terms.

Current contract situation between Lewis Hamilton and Mercedes

According to AutoSport Web, sources close to Mercedes claimed that the two parties, after a handful of months, have finally found a middle ground in their contract extension talks. However, the driver will be on the losing side.

As of now, Lewis and Mercedes have clarified over contract duration, salary including bonuses from title money, and veto power regarding teammate selection.

Formula One F1 – Abu Dhabi Grand Prix – Yas Marina Circuit, Abu Dhabi, United Arab Emirates – Mercedes’ Lewis Hamilton and Valtteri Bottas after the race Pool via REUTERS/Hamad I Mohammed

Apparently, the two parties’ lawyers have prepared an agreement, with final finishing touches yet to be done. Hence, it is likely that the announcement could surface the F1 community by the end of this week or early next week.

Lewis’s contract extension means that Valtteri Bottas will subsequently fall into the danger zone. With Russell awaiting Mercedes’ greetings for a full-time drive, the Silver Arrows will have to get rid of the Finn in order to bring in the incredibly talented Williams driver.

How long will Lewis stay at Mercedes?

Reports claim that Lewis will be signing a two-year contract with Mercedes. Furthermore, the Briton will possess the freedom to extend his stay to three years. However, he will have to reveal his final decision to Mercedes prior to the start of the European round in 2022.

If he opts for retirement following the 2022 season, Lewis demanded that he want to be the crucial aspect in figuring out his replacement from the driver’s market.

Pole position qualifier Lewis Hamilton of Great Britain and Mercedes GP looks on in parc ferme during qualifying for the Formula One Grand Prix of Japan at Suzuka Circuit in Suzuka. (Photo by Mark Thompson/Getty Images)

So what next? If the agreement turns out according to his demands, it is likely that George Russell will come up as the successor to the Knight at the championship-winning team.

Overall, the contract is still holding a massive pothole regarding the salary. Apparently, there seems to be a difference of millions between Lewis’ demands and Mercedes’ offer.

So, will Mercedes and Lewis clear off the obstacles and reunite for the 2021 season? Well, let’s see what the future holds.

Read More: Lewis Hamilton: His Road Through F1 How He Discovered His Love For Racing

Rohit Kumar

Rohit Kumar is an F1 author at EssentiallySports. He has been an ardent follower of the racing series since 2007, with his love for the sport coinciding with his love for Kimi Raikkonen. He is also an ardent follower of Sebastian Vettel and Aston Martin Racing. With his favorite track being Hockenheim and his favorite turn being Eau Rouge (Spa, Belgium), Rohit is a strong advocate for bringing back the pre-turbo-hybrid era V10 engines and their screams. Apart from being an author, Rohit is also a trained tennis player, having qualified for national tournaments. He has been a part of the Estilio Academy for over a decade.

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