SAN FRANCISCO, January 08, (THEWILL) – With the expiration of his contract with Mercedes, British racing driver and Formula 1 world champion, Sir Lewis Hamilton, officially became a free agent at the end of last week. By implication, the Mercedes driver seat beside Valtteri Bottas is the only one of the 20 seats on the F1 grid without a confirmed driver for next season.
Bottas had his own deal, a one-year extension, signed as far back as early August of last year. This is despite Bottas only being responsible for just nine of Mercedes’ 51 victories since teaming up with Mercedes and Hamilton in 2017 as well as the fact that Hamilton has won every world championship since then. This has fuelled rumours of Hamilton’s exit from the unit.
Although Mercedes and Hamilton have said the contract delays amounted to poor timing and the initial focus of getting the chemical giant INEOS on board as joint owners of the leading F1 automobile, it has become obvious that recent contract negotiations have only ended up being rejected by both parties.
In part, this has come as a result of Hamilton’s lofty contract demands. The four demands the 36-year-old is making for a new deal include the following:
• A four-year deal on a $200 million salary ($50 million per year)
• 10% of Mercedes’ winnings, should they win more championships
• A Limited-production AMG One car
• A role within Mercedes that “goes beyond being a driver and is more than a mere testimonial”
Currently, of the highest-grossing athletes from last year, Hamilton earned $42 million via salary and winnings in his record-breaking previous season, that saw him placed 13th on the Forbes ranking.
With a $50 million annual pay package, inclusive of earnings from winnings, Hamilton will easily move to 11th, and, depending on the extras he might make, there is every likelihood for him to be in the Top 10 big money-earning athletes going forward on his deal demands.
For a record-holding racer, with an unprecedented 95 podium finishes and a record-equalling seven F1 championships under his belt, including the last four and six of the last seven, these sorts of demands begin to look justifiable.
Yet, one of Mercedes’ joint owners Daimler does not see the demands in that light. They have stalled the contract negotiations in opposition to Hamilton’s demands and asked the knightly racer to take what he was initially offered, but he has similarly rejected theirs.
These come amidst news of concession from new joint owners Ineos, who are willing to cover much of his salary. Yet, nothing about an agreement has materialised as the three partners, Daimler, Ineos and Toto Wolff, all have to agree on terms before negotiations can proceed towards a contract.
It makes for an interesting prospect in the 2021 season. At present, there are no other open driver seats on the grid anywhere else for next season. Hamilton will have no where to slot into and will be staring an early retirement in the face if contract talks go south and he does not get the deal with Mercedes. Meanwhile, Mercedes will be losing out on a definite winner after eight consecutive seasons of victories.
Mercedes will have it at the back of their minds that they can always turn to junior driver George Russell racing for Williams. His performance when he took Hamilton’s stead following the champion’s COVID-19 break, impressed the team in the Sakhir Grand Prix at Bahrain International Circuit late in the 2020 season. That impression appears to have impacted Mercedes negotiations with Hamilton.
If by the scheduled preseason testings in March there still is no agreement, Mercedes will have to find another driver to take Hamilton’s seat alongside Bottas and that will turn the story of the entire 2021 season around making for very interesting prospects especially with the arrival of Mexican driver Sergio Perez at the Red Bull team where he will be racing alongside Red Bull frontline driver Max Verstappen. The axis of power might just shift in Red Bull’s favour.
The preseason testing is scheduled to begin on Tuesday, March 2 and run through Thursday, March 4 at Circuit de Barcelona-Catalunya. The 2021 calendar is expected to open with the Australian Grand Prix on Sunday, March 21 at Albert Park Grand Prix Circuit. However, due to coronavirus pandemic-related restrictions in Melbourne, Australia, there are indications that the Australian GP will be called off.
If that happens, the season opener will go to the Bahrain International Circuit, for the Bahrain Grand Prix, on Sunday, March 28.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
