Toto Wolff Snubs $250,000,000 Retirement Money for Lewis Hamilton After Denying Any Possibility of Non-Racing Role

As the 2023 season approaches its restart after the summer break, Lewis Hamilton’s Mercedes contract also comes closer to its end. With the record champion’s contract ending at the end of the season, reports of an extension have consistently flooded the headlines. The latest news comes in the form of Hamilton and Mercedes potentially agreeing to a $250,000,000 deal with the British driver taking up an ambassadorial role at the company for the next ten years.

This report was widely circulated all over the internet, with some of the biggest names in the news industry covering it on priority. But Hamilton as a Mercedes ambassador will only remain a concept, per the latest update by Mercedes boss Toto Wolff.

Lewis Hamilton and Mercedes are not in agreement over the Ambassador role

Speaking to Motorsport-Total.com, Mercedes Team Principal Toto Wolff clarified that while there are still contract negotiations going on between the team and Hamilton, there is no chance of the British driver serving the team once his racing days are over.

“No, we’re not talking about an ambassador role after his resignation. That’s not part of the contract negotiations either. I think he still has many years ahead of him as a driver in this team, and that’s why it’s just a matter of cleaning things up in the contract.”

Wolff added that the negotiations with Hamilton have been positive and might come to a happy conclusion soon. Only a few little things are left to be sorted before the pen can be put to paper. He refused to give a precise date for any major announcements as both parties’ lawyers are still holding talks with each other.

Hamilton has also expressed his desire to continue his association with Mercedes

Less than two months ago, Sky Sports F1 interviewed the seven-time world champion, where they conversed about the Brit’s F1 future. Before the teams geared up for the British GP, Lewis Hamilton confirmed Wolff‘s earlier words of their terms continuing for a few more years. He told them he wasn’t focusing on the team’s inconsistency and still had 100% faith in them.

 

Lewis Hamilton talked a little on his contract re-negotiation with Mercedes:

“I’m going in depth with my contracts now. But I plan to be here. I have a lot of work still to do with this team.” 💪 pic.twitter.com/ARRJWJzmNc

— Mercedes-AMG F1 News (@MercedesNewsUK) July 31, 2023

The British driver has expressed his desire to continue racing at the top level for at least another five years. If Mercedes are to have him for that long, it would mean Hamilton would continue racing for the Silver Arrows once the new engine regulations kick in.