Lewis Hamilton’s contract saga seems to have stretched for an eternity now.However, it seems like Mercedes has finally managed to ensure that he will stay.
AutosportWeb has reported that the two parties are inching closer to an agreement. The basic terms of the contract are more or less finalised, the report states.
The deal is expected to be made official later this week. Assuming that there is truth to these rumours, it will put an end to speculation surrounding these negotiations. This had led to many believing that Hamilton’s time at Mercedes was up.
Important elements of the contract, including basic terms such as the length of the deal, his salary and bonuses are believed to be set in place.
Interestingly, there is a clause in the deal that will give Hamilton veto power over picking his teammate.
The terms of the contract will see Hamilton stay for a further two years. There is also the option of extending the deal by a further season. However, this option would have a deadline that expires at the end of August 2022.
It is believed that Hamilton is still looking at a better salary than what is being offered to him. Mercedes, meanwhile, is pointing to the financial implications of the pandemic.
However, given his importance to the team, one would imagine that Mercedes will eventually find a way to ensure that they keep hold of their marquee driver, one way or another.