LEWIS HAMILTON has reportedly been offered a mega £62million-a-year extension to his Mercedes contract.
His current deal expires at the end of the 2023 season.
However, the reported new contract does not include the whopping £22million bonus for winning the World Championship that is in his current deal.
Instead, French outlet 20 Minutes say Hamilton, 38, has been offered a two-year deal worth £62m-a-year.
His current deal is worth a reported £40m-a-year.
So instead of potentially earning a bonus £22m for winning a record eighth world title, Hamilton will reportedly see his base salary increase by that figure.
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The deal is also rumoured to include a 10-year ambassadorial role for when he does eventually retire, worth £22m-a-year.
Mercedes sponsor Ineos, founded by Sir Jim Ratcliffe, will reportedly pay 90 per cent of the contract.
Earlier this week Ratcliffe formally launched a takeover attempt at Manchester United.
Hamilton is yet to pen a fresh Mercedes deal, but Merc chief Toto Wolff is relaxed about the situation.
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The Brit F1 legend has been enjoying the off-season, and recently celebrated his birthday with an incredible trip to Antarctica.
And Wolff, 51, is confident it’s only a matter of time before Hamilton extends his stay with Mercedes.
He recently told Sky Sports: “As for contract discussions, we have a full year to go.
“We are so aligned – in the last ten years our relationship has grown.”
He added: “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.”
The 2023 F1 campaign begins with pre-season testing on February 23, with the first race in Bahrain on March 5.
Hamilton will be hoping the 2023 season goes better than the last.
Persistent issues with his Mercedes car saw Hamilton finish the season without a win or pole position for the first time in his career.
Source: Motorsport - thesun.co.uk
