Lewis Hamilton is in negotiations with Mercedes to sign a new contract to keep him in Formula One until at least the end of the 2022 season.
Lewis Hamilton is reportedly willing to accept a lower basic salary in negotiations over a new Mercedes contract but is eager to include a clause that entitles him to a significantly bigger bonus for winning the Drivers’ Championship.
Seven-time Formula One world champion Hamilton is only under contract with the Silver Arrows until the end of the current 2021 season.
After six races, Hamilton trails Red Bull’s Max Verstappen by four points in the championship after a rare mistake at the Azerbaijan Grand Prix last time out led to a 15th-placed finish.
But the Briton is expected to battle the Dutchman all season long in a duel that could go to the wire across the 23-race calendar.
In the background, talk about Hamilton’s future in the sport continues with Hamilton turning 37 next January and currently out of contract at the end of the season.
Motorsport.com reports that Hamilton is willing to agree a wage cut in order to agree a new deal with world champions Mercedes.
Yet in order to do so, it is claimed he wants to double the bonus he currently receives for winning the title.
The report claims a deal will only guarantee Hamilton stays at Mercedes an extra 12 months although there will be an option for an additional year to take the agreement until the end of 2023.
Mercedes team principal Toto Wolff is said to want a resolution to the matter by June 15 as he seeks to finish negotiations as quickly as possible.
This year, Hamilton did not sign a new one-year deal until February, nearly two full months after the conclusion of the 2020 season in which he tied Michael Schumacher for the most driver’s titles of all time.
There are said to be several aspects of a deal still to be thrashed out with it claimed Hamilton has asked Mercedes to secure him a future position in Daimler’s structure.
That is because once he finishes racing, he is keen to continue his work improving diversity in F1.
In fact, the defending champion – who has 98 race wins and 100 pole positions – insists he is more passionate about campaigning for diversity than he is about winning more titles.
Hamilton has launched his own commission to look into the reasons why those from minority backgrounds are not as well represented in motorsport.