Formula One’s Champion is requesting a higher-grade salary for his recent performances throughout the 2018-19 seasons. Lewis Hamilton wants his yearly salary to be €60 million until 2021. Rumours indicate that the German manufacturer will reject this incredibly unrealistic salary, which would put Hamilton is an awkward position. After confirmations were made that Lewis Hamilton is re-signing with Mercedes AMG-Petronas, he immediately terminated all previous negotiations with Ferrari. The champ would be forced to resume his previous salary or go without a seat until 2021. Considering that Lewis Hamilton has never been willing to negotiate lower wages, the Silver Arrows will be forced to pay €60 million to win potentially two more championship titles.
Additional rumours indicate that Lewis Hamilton has requested a four-year contract, which doesn’t follow suit with Mercedes AMG-Petronas strategy to depart from Formula One after the 2021 season. Choosing to leave the motorsport would force Mercedes corporate to payout €120 million to Hamilton under this contract agreement. It should be noted that Lewis Hamilton is paid €42 million yearly, with his request meaning an additional €18 million on his previous salary. This four-year contract also demands that Hamilton have a permanent ambassador role with Mercedes AMG after retiring from F1.
Mercedes Unknown Future in F1
Lewis Hamilton isn’t considering that the Silver Arrows are cautiously approaching their future in Formula One. They’ve admitted to only being committed to F1 for another two seasons, which follows after the associated cost. It’s anticipated that Mercedes AMG-Petronas spends upwards of €4 billion yearly to meet the financial demands and damages of Formula One. The related fee with operating an F1 team has become a significant issue amongst the ten groups, with budget caps slated to be introduced in 2021. However, this means Mercedes cannot spend substantial funds anymore on development. It wouldn’t guarantee their continued legacy of championship after championship. Subsequently, Toto Wolff wants to leave on a high note, and this could leave Lewis Hamilton dry in the mud.
Toto Wolff hasn’t taken kindly to the demands of Lewis Hamilton, with the Austrian leader mentioning that they currently produce the fastest and most powerful car in Formula One, that any driver would be honoured to work with Mercedes. He did express that Hamilton is their priority driver but that negotiations are ongoing. It appears that Toto Wolff isn’t willing to provide Lewis Hamilton with the €60 million payday.