Toto Wolff: Lewis Hamilton’s Contract Extension Just A Matter Of Days.

Lewis Hamilton’s future in Formula One may find a resolution sooner than expected, with potential clarity emerging before the upcoming Canadian Grand Prix. The highly anticipated decision regarding Hamilton’s racing career could soon be unveiled, bringing an end to the speculation surrounding his next move.

Lewis Hamilton, the renowned Formula One driver, currently has six months remaining on his lucrative £40 million per season contract with Mercedes.

However, there are promising indications that Hamilton and the team’s principal, Toto Wolff, are on the verge of reaching an agreement for a fresh contract extension. The negotiations are reaching a crucial stage, suggesting that a new deal could be imminent for the superstar driver.

“It is going to happen soon, and we are talking more days than weeks,” Wolff told CNBC’s Squawk on the Street program in New York when asked about Hamilton’s contract negotiations.

“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.”

Following the conclusion of the recent race in Spain, Lewis Hamilton, aged 38, engaged in a meeting with Toto Wolff, the team principal of Mercedes.

The purpose of this meeting was to solidify and finalize a brand-new contract with the prestigious Silver Arrows. Both parties were eager to reach an agreement and make significant progress in securing Hamilton’s future with the team.

Expectations are high that the extension of the British driver’s contract will materialize as a multi-year agreement, surpassing his 40th birthday and ensuring his continued presence in the world of Formula One.

This potential development hints at a long-term commitment from the driver, highlighting his enduring passion for the sport and the desire to extend his successful career well into the future.

“Lewis is the most important personality in the sport,” added Wolff.

“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.

“From a team’s perspective, Lewis and Mercedes have gone back a long time. 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.”

Since his controversial championship loss to Max Verstappen at the 2021 season finale in Abu Dhabi, Lewis Hamilton has experienced a winless streak in Formula One. Unfortunately, he has not secured a victory in any subsequent races.

As a result, Hamilton currently finds himself trailing behind in the championship standings, a significant 83 points adrift from the current title pace in the ongoing season.

The recent resurgence of Mercedes’ performance has injected a renewed sense of hope into Lewis Hamilton’s aspirations for an eighth world title.

Despite finishing as the runner-up to Red Bull’s Max Verstappen at the Circuit de Catalunya in Barcelona, Hamilton is buoyed by his team’s improved form. This positive turn of events has revitalized his belief that his long-standing dream of securing the record-breaking eighth championship is still well within reach.

However, Wolff warned: “The result in Spain was a well-deserved reward for everyone’s efforts at Brackley and Brixworth to bring our update package to the track.

“We were pleased with how it performed, and it will provide a new baseline for us to build from.

“But we must also manage our expectations. It was a circuit that suited our car, and we should expect our direct competitors to be stronger in the next races.

“The gap to Red Bull is large and it will take lots of hard work to close that down. Nevertheless, we’re up for the challenge.”