Report: Hamilton compromises on salary as Mercedes accepts Verstappen clause

It seems more and more likely that Lewis Hamilton and Mercedes have reached an agreement and put an end to a prolonged contract negotiations.

F1 Insider is the latest to state that the two parties are now in agreement, with a veto clause in place that will allow Hamilton to choose his future teammate.

Hamilton first arrived at the Silver Arrows in 2013. In 2016, he lost out on the world championship to teammate Nico Rosberg.

The British driver’s contract expired last year and since then, negotiations are believed to be ongoing. Sources claim that Hamilton is set to sign a one-year deal. The deal will have an option of extending his stay by another season.

His salary, believed to be in the region of 40 million euros per year is set to stay the same. It is believed that Hamilton was looking for a figure in the region of 50 million euros. However, with growing pressure from various fractions, he has come to a compromise. With regard to advertising spaces, he will be allowed to use two slots on his helmet and overall.

What is more striking, perhaps, is the fact that he has a veto clause. Among insiders, this is believed to be called the Verstappen clause.

Max Verstappen has been on Toto Wolff’s wish list for a while now. It is rumoured that Hamilton is not keen on the prospect of teaming up with the young Dutchman.

A number of Formula 1 personalities have spoken about the prolonged nature of these negotiations. Ralf Schumacher claimed that it was “embarrassing” and that Hamilton was only ruining his own public image.

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