Latest on Hamilton and Mercedes contract negotiations

Mercedes has denied rumours suggesting Lewis Hamilton is on the verge of signing a new £60million-per-year contract.

The seven-time F1 world champion is out of contract at the end of the coming season but is widely expected to put pen to paper to extend his stay with the Silver Arrows.

Speaking last year, team principal Toto Wolff suggested Hamilton's next deal could last for five years, meaning he would remain in F1 until he would remain in the sport until he is 43.

Recent speculation in the French media indicated that Hamilton's new arrangement was on the verge of completion with team co-owner Sir Jim Ratcliffe said to be bankrolling the £60m-per-year deal.

Speaking two days after the rumours surfaced, Wolff remarked that conversations had, in fact, not yet begun as Hamilton was being left to enjoy his winter break.

"It is just a matter of him being back in Europe, [us] sticking our heads together, wrestling a bit and then leaving the room with white smoke after a few hours," said Wolff.

GPFans understands the situation remains as described by the Austrian with the "pretty wild" rumours also reported as being "without foundation" by UK F1 broadcaster Sky Sports.

Sit tight, Team. We'll be racing again soon 💜💙 pic.twitter.com/0YEJCZ5Q2k

— Mercedes-AMG PETRONAS F1 Team (@MercedesAMGF1) January 17, 2023

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