Lewis Hamilton Set to Become Highest Paid F1 Driver with New Mercedes Deal

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Lewis Hamilton Set to Become Highest Paid F1 Driver with New Mercedes Deal

If the rumors are to be believed, the British driver Lewis Hamilton will receive an improved contract from Mercedes and stay in Formula 1 until 2025. Although Hamilton's current contract is valid for another year, there are already talks about extending cooperation with the Mercedes F1 team.

He would reportedly earn €70m per season, which would make the seven-time F1 champion once again the highest paid in the sport. He currently shares the title with two-time world champion Max Verstappen. The new contract would cover the years 2024 and 2025, so Hamilton would earn 140 million euros for two seasons.

He would also automatically stay in the F1 world until the age of 40 as he celebrated his 38th birthday earlier this month. The Brit recently said that he does not intend to retire, and this is an indication that he is still chasing a record eighth championship title.

He is currently in Antarctica preparing for a new season that will include 23 races. "I have not a put a limit on it to be honest," he said on Thursday when asked how long he would stay in F1. "I'm planning to do a multiyear deal with my team.

I really don't know what the next five years ... I think we're still trying to work on that. There are a lot of great things that are being put in place, like I just launched the production company this week, but I feel great in my body and mind.

So, I want to continue, I think there's more stuff for us to achieve together so I want to be here longer, I just don't know. If Fernando leaves maybe I'll have to think about it twice because I'll be the oldest driver then!"

Toto Wolff believes the two sides will quickly come to an agreement.

"We have a full year to go," Wolff said, according to PlanetF1.

"We're so aligned. In the last 10 years, our relationship has grown that it's just a matter of him physically being back in Europe, sticking our heads together, wrestling a bit, and then leaving the room with white smoke after a few hours." If he signs the contract, Hamilton will become arguably the highest-paid driver on the grid and leave behind Verstappen, who had a salary of 40 million euros in 2022 but also received a bonus of 20 million euros for winning the second championship title.

Third on the list would be Fernando Alonso who has a contract with Aston Martin worth 20 million euros per year.