Contract talks between Lewis Hamilton and Mercedes are ongoing but a new deal is not “imminent”, according to a report.
The seven-time Formula 1 world champion is currently the only driver yet to be confirmed for the 2021 season and speculation is mounting for the cause of the delay.
Disagreement over salary is the main reason touted in Italian media reports, with claims Hamilton is demanding $40m-a-year plus a cut of Mercedes’ prize money.
However, PA reporter Phil Duncan claims contract length is also now a factor.
“It is understood both parties have been in dialogue in recent weeks and although discussions are progressing, a conclusion to the saga is not imminent,” he wrote.
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“Mercedes are confident Hamilton, awarded a knighthood in the New Year Honours list, will extend his stay with the sport’s all-conquering team.
“But the length of his new contract is under scrutiny, with reports the record-breaking Briton has been offered only a one-year deal.”
This comes as Mercedes has junior driver George Russell, who impressed when he subbed for Hamilton in Bahrain last year, waiting in the wings to step up should the unlikely happen and Lewis doesn’t re-sign.
But with team boss Toto Wolff previously putting a deadline of pre-season testing – which is now set for mid-March – for a deal to be done, there is still a decent amount of negotiating time left.