Lewis Hamilton set for new contract talks this week, says Toto Wolff

Lewis Hamilton will open new contract talks with Mercedes over a £120m deal ‘in a few days’, says team boss Toto Wolff… while the world champion enjoys downtime on the beach

  • Mercedes boss Toto Wolff will discuss a new deal with Lewis Hamilton this week
  • The 35-year-old is enjoying some downtime before he gets back to business 
  • Hamilton wants a new £40million-a-year contract to remain with Mercedes
  • The Brit has admitted that he could walk away from F1 if a deal can’t be reached 

Mercedes team boss Toto Wolff has revealed he will sit down and start talks with Lewis Hamilton over a new contract this week.

The seven-time world champion’s current deal is set to expire next month and he is seeking fresh £40million-a-year terms to stay with the team, as reported by Sportsmail.

Despite Hamilton also sensationally admitting he may walk away from the sport at the end of the year, he is understood to be open to renewing his deal and staying with the team – and Wolff insists the best deal will be when both parties walk away ‘not completely satisfied’. 

Mercedes team boss Toto Wolff says he start new contract talks with Lewis Hamilton this week

The talks will happen days after Hamilton wrapped up a historic seventh world title in Istanbul

‘Flying back from a seventh drivers’ championship, you can’t talk about a contract. It wouldn’t do justice to the achievement,’ Wolff told BBC Sport.

‘We’re going to give it a few days then we are going to talk about it.

‘Our relationship is much beyond business, it is one of friendship, one of trust.

‘This one day of negotiations is something we don’t enjoy as it’s the only time where we are not having shared objectives. The best deal is one where both parties walk off not completely satisfied.’

The 35-year-old Brit wants a new £40million-a-year contract to remain with Mercedes

Wolff and Hamilton had put off contract talks until they wrapped up both the drivers’ and constructors’ championships first, while also limiting contact to decrease any risk of the Brit catching the coronavirus.

However, following Hamilton’s record-equalling seventh world championship, which draws him level with Michael Schumacher, the 35-year-old and Wolff are ready to discuss his future.

Hamilton is currently enjoying some downtime following his world title triumph in Istanbul, where he filmed himself running on a beach on Monday morning.

He told his 20 million Instagram followers: ‘Hey World! Woke up today feeling super grateful and bless for another day. I hope you started your week with positivity, I’m sending you some.’

Hamilton is enjoying some downtime as he filmed himself running on a beach on Monday

Sportsmail has previously reported that a proposal to limit the wages of the sport’s biggest stars will start in 2023. 

Pay packets will be restricted to £22m, a move which even received Wolff’s backing. 

Hamilton’s new deal is likely to be honoured, however, provided it is signed before the new rules are implemented shortly.

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