‘Lewis Hamilton must lower demands as Mercedes reject 10-year deal request’

Hamilton’s current deal expires at the end of this season but he, and Mercedes, have always claimed a new contract is a formality despite it remaining unsigned.

Now, new revelations about a disagreement have been reported by the British newspaper.

Hamilton’s current salary is £27.5m plus a £15m bonus for winning the F1 title but, in his next contract, he wants the extra £15m guaranteed, the newspaper reports.

Hamilton wants a “long-term” contract but Mercedes’ preference is to only offer him one year with the option of a second year.

And Mercedes are “not prepared” to agree to Hamilton’s wish for a 10-year ambassadorial role, after his F1 career ends, which would be worth £10m per year.

Neither Hamilton nor Mercedes “wants the relationship to end”, it is reported.

But the seven-time F1 champion must “lower his demands to get a deal signed”.

The Mail described Hamilton and Mercedes’ current negotiating position as “widely contrasting”.

However, Sky broadcaster David Croft believes that Hamilton and Mercedes could announce their new agreement at next month’s F1 British Grand Prix.