Hamilton demands huge payrise to extend Mercedes contract - report

Lewis Hamilton has told Mercedes he expects a massive pay rise in order to extend his contract with the German constructor when his current deal ends in 2018, according to reports in England.

Hamilton's current £32m-a-year, three year contract makes him one of the highest-paid sportsman in the world, but the Englishman has allegedly requested a £13m-a-year increase to this arrangement.

He has spoken recently of his desire to find 'new challenges', adding that he 'understood' Nico Rosberg's decision to walk away from the sport as champion at the end of last season.

However Hamilton has also suggested that he still has the desire to drive for one or two more years yet, but is only willing to do so if his pay demands are met, suggests the Daily Mail.

Any new agreement would push Hamilton onto £45m per season, but much will depend on how the 2018 season pans out, and whether Hamilton retains the drive to chase down Michael Schumacher's record of seven world championship titles.

Speaking at the Brazilian Grand Prix yesterday, the 32-year-old told the media:

I can continue winning for a long, long time.

“I guess it depends if the fight remains within me. It is still there now, but I don't have a desire to chase Michael, although I am a lot closer than I ever was.

“I’m grateful to be up there and among the real, real greats = not only among them, but standing up there with them. I have at least one more year in me, maybe more.”