“Now it’s the hot phase”– Lewis Hamilton to take a pay cut in his new Mercedes contract

“Now it’s the hot phase”– Lewis Hamilton is going to take a £10 million pay cut in his new contract extension with Mercedes.

Lewis Hamilton to remain with Mercedes for another year has to sign another contract extension, which he last year after a tedious delay signed in February.

But in a new update by the Sun, the Briton will have to take a £10 million pay-cut to convince Mercedes to give him another year. The source discloses that the talks between the two sides have started on a positive note.

Currently, the Mercedes’ ace earns around £40 million with the Brackley based team after he signed the contract earlier this year, which will soon be expired.

On the other hand, Mercedes has been reportedly planning to implant George Russell in Mercedes’ system in 2022, and currently, the axe is on Valtteri Bottas’ neck, instead of Hamilton, but at the same time, takes away bargaining power from Hamilton.

It’s the hot phase

Meanwhile, Mercedes boss Toto Wolff has also talked about the contract extension of Hamilton, and he claims, unlike last year, he wants to wrap it sooner. According to him, it’s the hot phase of the talks.

As quoted by The Sun, the Austrian said: “We have such a close relationship and we talk to each other again and again when travelling or off the racetrack. Of course, also about what an agreement could look like for the years to come.

“If I were to say that the contract has already been signed, that would not be correct. But we are beyond the status of exploratory talks. Now it’s the hot phase.”

“I think we are way closer to an agreement than a separation. Because we also agreed that it is better not to negotiate until February, as was the case this year.”

About the author

Tanish Chachra

Tanish Chachra is the Motorsport editor at The SportsRush. He saw his first race when F1 visited India in 2011, and since then, his romance with the sport has been seasonal until he took up this role in 2020. Reigniting F1's coverage on this site, Tanish has fallen in love with the sport all over again. He loves Kimi Raikkonen and sees a future world champion in Oscar Piastri. Away from us, he loves to snuggle inside his books.

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