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Lewis Hamilton poised to sign new £21 million a year deal with Mercedes

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Lewis Hamilton poised to sign new £21 million a year deal with Mercedes
Mar 30, 2015, 10:15 PM

World Championship leader Lewis Hamilton says he is "99.

World Championship leader Lewis Hamilton says he is "99.6%" there on his new Mercedes contract, which he has negotiated himself with the team's managers Toto Wolff and Niki Lauda.

This would keep him in the company of the sport's two other leading drivers, Sebastian Vettel and Fernando Alonso.

"It's 99.6% done. There's no negotiating left, it's just legal stuff," Hamilton told the BBC. "It should be done this week. There is no reason it shouldn't."

According to figures sourced by the BBC's Andrew Benson, Hamilton will earn US$31 million a year.

"Alonso is being paid $40m a year by McLaren and Honda for the duration of the three-year deal he has signed, which runs until 2017. Vettel will earn a one-off $50m (£33.7m) in his first season with Ferrari in 2015 but less after that, according to senior sources.

"The figure for this season is high because the German secured a deal that, for one year only, he would have all possible bonuses he could earn guaranteed, as a kind of golden handshake for joining the team.

After 2015, Vettel will revert to a basic salary of about $30m (£20.4m), with bonuses defined for wins and championship titles, according to sources close to Ferrari."

XPB.cc

The new deal, is the first that Hamilton has negotiated by himself, having split with Simon Fuller’s 19 agency last year. Most contracts of this kind are for three years or two plus a one year option. Hamilton's existing deal was three years, while Mercedes is committed to F1 until the end of 2020 at least and a three year deal would take Hamilton to the end of 2018.

At 30 Hamilton will probably have one more contract after this one during his F1 career. A move to Ferrari aged 33 is a possibility as the Maranello team has always tracked Hamilton, but never got close to a deal. Much depends on how many championships he wins in the next four years.

Staying at Mercedes this time was the obvious choice as they have the best car at the moment, despite the strong form shown by Ferrari at the weekend. Hamilton has maintained since last year that his plan was always to stay at Mercedes. The two sides had some preliminary discussions last season, but didn't get down to proper talks until the start of the pre-season testing in February.

One advantage for Hamilton of prolonging talks until now is that he has been able to demonstrate that he's moved clear of Rosberg, who challenged him for the championship last year, but who has struggled to get on terms this year.

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