Lewis Hamilton’s contract negotiations have been a topic of speculation this year. Reports suggested that Hamilton had requested a 10-year deal with an 8-year Brand Ambassador agreement worth $25,000,000 per year. However, it appears that Hamilton has reached an agreement with Mercedes, despite interest from Ferrari.
John Elkann and Frederic Vasseur supposedly contacted Hamilton regarding a possible future with Ferrari. Nevertheless, it is rumored that Hamilton declined the offer to stay committed to the team that has secured him six championships. Mika Hakkinen cautioned Hamilton against impulsive choices and advised him to carefully evaluate which team can offer him a superior car before finalizing his future contract.
Lawrence Barretto reports that Toto Wolff and Hamilton are not concerned about the duration it is taking to complete the new agreement. They have confirmed that the essential terms, such as financial aspects and duration, have been agreed upon. Only minor particulars need to be resolved.
Michael Schmidt suggested that Hamilton would not move to Ferrari even if they offered him $70,000,000. He believes that Hamilton understands the issues at Ferrari and a move would only worsen things for him.
As we await official confirmation and the finer details of the contract, it seems likely that Hamilton will stay with Mercedes. Even a senior F1 journalist suggested that Hamilton would not move to Ferrari.
Schmidt, as reported by motorsport.nextgen-auto.com, expressed his belief that Hamilton is highly intelligent. He acknowledges that Hamilton is well aware that even if Ferrari were to offer double the salary, it would not improve the situation there. Schmidt emphasizes that Ferrari is not ahead of Mercedes, and any issues faced by Mercedes would be magnified at Ferrari due to the increased scrutiny they face.
The public declaration of Hamilton’s recent agreement with Mercedes has not been made yet.