Mercedes chief Toto Wolff has revealed that Lewis Hamilton could sign a new contract extension with the team as early as this week.
Hamilton’s future in Formula 1 has been the subject of intense speculation in recent months, with the Briton’s current deal set to expire at the end of this year.
The seven-time World Champion has been repeatedly linked with a blockbuster switch to Ferrari – reports quashed by the Italian marque’s team boss Frederic Vasseur.
Hamilton professed after the Spanish Grand Prix he was ready to commit his future to Mercedes and Wolff has claimed negotiations could be finalised before this weekend’s Canadian Grand Prix.
“It is going to happen soon, and we are talking more days than weeks,” Wolff told CNBC’s Squawk on the Street programme when asked for an update on Hamilton’s contract talks.
“We are trying hard [to get it done before the Canadian Grand Prix]. I will see him today and maybe we will talk about it.
“We have such a good relationship that we dread the moment that we need to talk about money.”
Since leaving McLaren for Mercedes in 2013 Hamilton has gone onto achieve unparalleled success in Formula 1, culminating in him matching Michael Schumacher’s record for the most World Championships in 2020.
The 38-year-old has also surpassed the legendary German’s previous benchmark tally for race victories and pole positions.
Hamilton has never driven in F1 without the aid of Mercedes power and Wolff is excited about the prospect of continuing their hugely successful partnership beyond 2023.
“From a team’s perspective, Lewis and Mercedes have gone back a long time,” the Austrian acknowledged. “He has never raced for any other brand than Mercedes.
“We both joined the team in 2013 together, and from a professional relationship, we now have a friendship. It has been a wonderful time.”
Despite not winning an F1 race since December 2021, Wolff maintains that Hamilton remains the “most important personality in the sport”.
“He is so multi-faceted, not only with the racing, but also off track, so we need to keep him in the sport for as long as possible”, he added.
Following a disappointing beginning to the new season, Mercedes’ recent upgrade package – debuted in Monaco – appears to have sparked an upturn in form.
Both of the revised W14 cars finished inside the top three in Spain, Hamilton leading team-mate George Russell to score Mercedes’ first double podium of the year.
The result meant Mercedes moved into second place in the Constructors’ standings and left Hamilton confident the Brackley side can close the huge gap to Red Bull, who have won all seven races to be held in 2023.
Another victory for Max Verstappen, meanwhile, has the reigning World Champion on course for a third consecutive title.
Hamilton, who missed out on a record-breaking eighth F1 crown to Verstappen in controversial fashion two years ago, has urged Mercedes to ensures its in a position to fight Red Bull from the start of next year.
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