Lewis Hamilton Reveals When Will His Reported $250,000,000 Contract Be Announced as He Remarks “There’s No Negotiation Left”

The 2023 Formula 1 season has almost reached its halfway point, and Lewis Hamilton still hasn’t penned down his contract renewal with Mercedes. With recent reports claiming that Hamilton has demanded a contract worth $250,000,000 from the team, Hamilton has revealed that contract negotiations with Mercedes are almost complete.

Hamilton’s current contract expires at the end of the 2023 season. Amidst rumors about a possible offer from Ferrari, Mercedes not renewing Hamilton’s contract ten races into the season has sent the F1 world into a frenzy.

The speculations around the contract renewals have led to rumors that range from Hamilton joining Ferrari to the seven-time world champion hanging up his racing gloves and retiring at the end of the season. However, Hamilton has finally cleared the air and revealed when fans can expect the announcement about his contract.

Lewis Hamilton explains the current situation of his contract negotiation

Leading up to the Hungarian GP, Hamilton was asked by the media to provide them with an update about the current status of his negotiation. Hamilton replied that the negotiation is almost complete, but he will wait till the end of the season to announce the same.

BusinessF1 recently reported that Hamilton had asked for a five-year deal paying him $50,000,000 a year. This would mean that the total contract would be valued at $250,000,000. However, according to BusinessF1, even though the Silver Arrows had agreed with the monetary aspect of the deal, they were not ready to tie up with Hamilton for five more years.

The seven-time World Champion has stated that he has never been involved with the negotiation talks. As per Silverarrows.net, he said, “I’ve not been part of it the whole time. I’ve been removed from it from the beginning.”

According to Hamilton, he has been focusing on all the other things he needs to do, i.e., racing. His team and his lawyers have been going through the whole process, and as of now, “There’s no negotiation left; it’s just all the small bits,” claimed Hamilton.

Hamilton’s plan with Mercedes

Hamilton has quashed all of the rumors about his move to Ferrari, but the Briton hasn’t said anything about the stories regarding his demands from the team.

The 38-year-old driver recently discussed his desire to win the much-awaited eighth title. In a documentary by DAZN Sports, Hamilton said, “I want to win my eighth title. I have the sights on the next Championship.”

As of now, the Brackley outfit has not been able to provide him with the machinery that can challenge for race wins, let alone titles. However, with how things seem, the 103-time Grands Prix winner wants to stay with the Silver Arrows and fight for his eighth title.