Mercedes is one of the top racing companies in the Formula 1 world racing circuit and many racing drivers are in competition to drive for the company. Lewis Hamilton, a former world number one driver in the Formula 1, has placed Mercedes as the favorite to win in any Grand Prix across the world. Hamilton is a three-time world champion and one of the highest paid sports personalities in the world.

Current Mercedes Contract

Currently, Hamilton has a £100 million three-year deal that expires at the end of 2018. In the deal, he has retained the control of his image rights and, through the Mercedes contract, he has gained huge endorsement deals including Monster Energy, Puma, IWC, MV Agusta Motorcycles, L’Oreal, and Bombardier Recreational Products. These endorsements line the pockets of the 32-year-old driver with at least with £6 million.

With the British national on his way to winning the fourth world title, his has expressed his wish to expand his horizons with a different racing team, Ferrari. However, the current world number one driver, Sebastian Vettel of Ferrari, frustrated Hamilton’s dream, when he penned a three-year deal to remain Ferrari’s best driver.

New Mercedes Contract

With the developments at Ferrari, Hamilton reported to the world that he wanted to sign a new contract with Mercedes. However, Mercedes racing team boss, Toto Wolf, is adamant that it is best to wait until the end of the 2017 season to start negotiating the terms of a new contract with one year remaining on Hamilton’s contract.

In the recently concluded Italian Grand Prix, Hamilton finished ahead of Vettel, amidst booing by Ferrari fans. Hamilton won the race with just three points ahead of Ferrari’s Vettel, reducing his Vettel’s lead in the Driver’s championships to just seven points with seven races left in the circuit in 2017. By the end of the 2017 season, he might have an extension to his career at Mercedes.