|Lewis Hamilton/ stock image|Lewis Hamilton’s contract with Mercedes “is an endless story. Negotiations have been going on for months between the optimism of the two parties involved and the constant lack of an official signature. Another former Formula One driver, Ralf Schumacher, stepped into the conversation with a new section of the critics and said that this was an “Awkward case”. But is this really as it seems to people?
What if Lewis Hamilton and Mercedes both really need the time to make the best deal in Formula One? Let us discover the problems with Lewis Hamilton’s contract and the main reason for this endless saga.
Lewis Hamilton’s contract talks
F1 fans are still unaware of the Mercedes team’s clear demands on the seven-time Formula One World Champion, and there is no written information on this. Although the racing experts have already dictated what Lewis Hamilton expects from a new contract and reasons why the deal is delayed, here are:
|V. Bottas T. Wolff, L. Hamilton, social media|
Point 1: Covid-19 impedes negotiations
In the last half of the 2020 Formula 1 season, journalists tried to find out why Toto Wolff still has no signed contract with the Mercedes logo on the table. Mr. Wolff was quite clear that there was a reason why the coronavirus pandemic disrupted his negotiations with Lewis Hamilton by saying that they are seeing each other less often. For example, the Ferrari F1 team formed the team before 2021 because the other teams did not move. Red Bull Racing announced and met the deadline in advance and signed Sergio Perez before Christmas.
Of course, Lewis Hamilton’s reduced contacts did not help him, he tested positive for Covid-19 before the Sakhir Grand Prix. After a while, the reason for Lewis Hamilton’s contact delays changed and it sounded as if the Mercedes F1 Team did not want to be distracted from the fight for the title. However, even when both Formula One titles were won comfortably, this did not lead to the desired signatures under the contract.
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Point 2: Money- Lewis Hamilton’s net worth
Normally money is not the most pleasant question among Formula 1 drivers, but behind the grand prizes there is always a lot of money. No matter how many times Lewis Hamilton says he “didn’t joy for money” this endless delay in the contract with Mercedes has given him a shadow of doubt from his fans as a Lewis Hamilton haters. Allegedly, he wanted 50 million dollars a year and that was approved by Toto Wollf, but Daimler CEO Ola Kallenius has stopped it. Meanwhile, there are other reports that Hamilton is seeking a three-year contract worth $70 million a year, but that would not be feasible, not with Mercedes having to cut 20 per cent of its staff following the coronavirus pandemic.
Why is Lewis Hamilton so popular? It’s not about Formula 1 title
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Point 3: How many years in the Mercedes F1 team?
Lewis Hamilton is planning to end his career – this is the situation around the contract. He has a great plan and is concentrating on doing so in the Mercedes F1 Team after a few years, not year only. Thus, Lewis Hamilton will have to risk becoming “the greatest Formula One champion of all time.”
Point 4: Bonuses
In addition to many privileges such as new Mercedes cars, there is the special right in Lewis Hamilton’s contract – a veto right regarding choosing a teammate. At first glance, it seemed unbelievable for Formula 1, but F1 fanatics know that there is an out-of-the-box agreement that always had a place. Such requirements are totally unprofitable for the Mercedes F1 team because George Russell is serious about presenting Mercedes F1 in the future. Neither a four-year term, let alone a three-year term, nor a right of veto – all these are completely unfavorable conditions for Mercedes
Lewis Hamilton’s contract extension – what’s the reason?
Totto Wolff is a talented speaker and makes no idle threats. When he says Lewis Hamilton’s contract is already done – does it mean done. What’s the reason, where is this signed declaration – you ask? The deal is endless because Mercedes F1 Team and Lewis Hamilton both want to make the most of this situation. Mercedes F1 Team became seven-time constructors “world champion, while Lewis Hamilton became the most talked about man of the year as one of the richest sportsmen as well as the most influential. It is not a conflict of interest, but an interest to get the best possible profit in the future.
So it is no doubt clear why Lewis Hamilton’s contract is still being discussed and probably being negotiated again and again. You can be sure that the contract has already been concluded, but everyone behind it is focused on achieving their own goals: no matter what it is: money, cars, influence, team value. Mercedes and Lewis Hamilton’s main plans for the future after the 2021 season – that is the key to the scenario.