Lewis Hamilton May Earn $403 Million From New Contract With Mercedes After 2023

Lewis Hamilton is one of the biggest names in F1 history, and also one of the most successful drivers of all time. He has broken almost every record possible since making his debut back in 2007. Currently, he is the driver with the most number of race wins, pole positions, and fastest laps.

The only record remaining for him to break is that of becoming the driver with the most World Championships. Currently, Hamilton is tied with Michael Schumacher at seven Titles.

Hamilton has been with Mercedes since 2013 and has tasted the maximum amount of success with the Brackley-based outfit. However, his contract runs out at the end of the 2023 season, and despite both parties reiterating their desire for the partnership to continue, the finances behind the deal are flabbergasting. Hamilton is currently on a contract with Mercedes that sees him earn about $50 million. If he wins the Championship in 2023, he is set to receive a bonus of $25 million.

However, the new contract that is being drawn up will reportedly be worth over $403 million!

Also read: Lewis Hamilton Open To Joining NASCAR With $10 Billion Worth Company In The Future

Mercedes ready to pay staggering amount to secure Lewis Hamilton beyond 2023

Hamilton is currently 38 years old, but the 7-time World Champion is showing no signs of slowing down. In fact, he has vowed to fight until he wins his eighth World Championship at least, especially considering how he lost out on it in a heartbreaking fashion just over a year ago.

It is very clear that Hamilton and Mercedes both want each other beyond 2023. However, Hamilton being one of the most marketable athletes in the world does not make it financially easy for the Brackley-based outfit to land his signature.

Lewis Hamilton is aiming for a 10-year ambassador agreement with the Daimler group, for which ‘he would’ ask for about €25M per year, that is €250 million euros until 2035.

His 2024-2025 racing contract is looking to start at €70M per year – €140M total without the bonuses.

— deni (@fiagirly) January 16, 2023

According to reports, Hamilton’s new contract will be worth approximately $403 million. This amount and duration, however, does not just include his driving services for the next three years but also makes the Stevenage-born driver a brand ambassador for Mercedes. He is asking for $25 million for a period of 10 years which will see him earn $250 million by acting as ambassador for Daimler group.

Hamilton is set to extend his contract beyond 2023 for two seasons. The Briton will put pen to paper if Mercedes agrees to pay him $70 million for those two years.

Also read: Mick Schumacher Caused $1.5 Million More In Damages To Haas Than Reported In 2022