Hamilton: Red is my favourite colour

Lewis Hamilton has addressed the rumours circulating this week that he could be about to jump ship from Mercedes to Ferrari at the end of the season, by claiming that although red is his "favourite colour", he is happy where is he at the moment.

The current Formula One world champion's current contract with Mercedes runs out after the 2018 campaign with him yet to put pen to paper on an extension.

Ferrari, meanwhile, remain the most prestigious team in the history of the sport and there is speculation this week that Hamilton could be tempted to don the red of the Prancing Horse before he retires. However, he insists he is happy with Mercedes.

"Red is my favourite colour, but I'm happy where I am," Hamilton said.

"Loyalty is a value that my father taught me. I've only changed teams twice in my career, so I'm not the type that jumps from place to place."

Hamilton also provided an update on his contract situation and claimed that he would not be rushed into any decision.

"We've already started discussions," he added.

”But that isn't my priority at the moment. I won't renew when it suits other people, I'll do it when everything is ready."

Mercedes boss Toto Wolff seems to be more forthcoming about when and if the renewal from Hamilton will actually happen, even though the driver himself does not seem in any rush to sign on the dotted line.

"It's a matter of days, maybe weeks. But the logical outcome is that he stays with us," Wolff told APA news agency.

"It's about the details that we want to formulate correctly. It may be Lewis' penultimate or last contract, so it's about the running time. But I'm very optimistic that it will happen."

The Silver Arrows are guaranteed to have Hamilton in 2018, at least, and he will get behind the wheel competitively for the first time this season this weekend at the opening Grand Prix in Melbourne, Australia.