Lewis Hamilton has apparently signed a €40 million deal with Mercedes, after an exhaustive contract negotiation deadlock.
Mercedes and Lewis Hamilton across this winter were engaged in a contract negotiation deadlock. With the Brackley based team not confirming his association in 2021 till now.
However, a report by the F1-Insider.com, Hamilton has reportedly agreed a €40 million deal with Mercedes on a one-year contract with an option of extending it for the second year. The source also quotes that while Hamilton’s salary will remain the same.
However, he would be given the exclusive right to exercise his commercial interests with Mercedes allowing two advertising spaces on his helmet and overall himself.
Therefore, it is reported that Mercedes might announce this agreement by next week, ending the driving lineup 2021 conundrum for once and all.
Many were against demands by Lewis Hamilton
It seems that the majority of the conflict between Mercedes and Hamilton was about the freedom the Briton shall have while marketing himself on the individual level when performing for Mercedes.
Meanwhile, a substantial amount of money was also demanded by Hamilton, which might have irked the bosses, and for once chose to inspect viable replacements.
However, with this report, it doesn’t seem that Mercedes is going that way now. Yet, there were other people who thought Hamilton was being unreasonable with his demands.
“Asking for ten per cent of the team’s revenue is absurd; you can’t do that because everyone is replaceable. But for Lewis, for example, to get a share of the TV money, I think that’s perfectly justifiable,” said Eddie Jordan
Though, Jordan also insisted that Hamilton should have some prerogative to market himself while performing for Mercedes, as he obviously attracts enough capital for the team.
“He sells Formula 1 by far the most worldwide. I also think it’s good that he has the right to market himself. For example, he lured a top sponsor like Tommy Hilfiger to Mercedes. For that, any ordinary agent would have gotten ten per cent.”
