New Timer Set On Lewis Hamilton Retirement As $420 Million Mercedes Contract Details Revealed

With a few weeks to go before the 2023 F1 season, Lewis Hamilton and Mercedes are already in a discussion about a contract extension that could be worth over $420 million for a long period. The contract extension for the Brit is expected to be for another two years at the Brackley-based F1 team, along with the next ten years as an ambassador for the Daimler Group (Mercedes Benz).

According to the French media outlet sportune.20minutes.fr, Hamilton and Mercedes’ contract discussion could take place anytime soon in the first half of the upcoming season, as the 38-year-old’s contract expires with the Silver Arrows at the end of this season.

Initially, the former McLaren driver reportedly offered to extend his contract for 2024 and 2025 under the same terms but against $75 million a year, and a total of $150 million till 2025. Moreover, Hamilton is also expected to strike an ambassador deal with the Daimler Group, where he will act as an ambassador for the German automotive giants and take home around $270 million for ten years.

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When the 2025 contract expires for Hamilton, he will be 40 years old then, and if the contract solidifies with the Daimler Group, he will act as their global ambassador and take home $27 million home each year. However, neither the contract details have been made public yet neither Mercedes nor Hamilton have made any public announcements for the contract extension as of now.

Toto Wolff reveals plans for Lewis Hamilton’s contract extension

Mercedes AMG F1 chief Toto Wolff has recently opened up on Lewis Hamilton and Mercedes’ contract extension. The Briton is still under contract with the German team and this will be the eleventh year Hamilton will race for the Silver Arrows after joining them from McLaren in 2013.

Talking about the contract extension, as per Crash.net, Wolff shared, “As for contract discussions, we have a full year to go. We are so aligned – in the last 10 years our relationship has grown.”

“It’s just a matter of him physically being back in Europe, sticking our heads together, wrestling a bit, and then leaving the room with white smoke after a few hours,” concluded the Austrian executive.

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As for Lewis Hamilton, with his exploits outside the sport, he is currently looking forward to adding $3.8 Billion to his pockets with yet another sports deal for the time being. But would the next contract extension be the last for Lewis? And in these two years, will he be able to get his hands on that elusive 8th title to make history?