Lewis Hamilton’s contract negotiations with Mercedes have hit a snag, according to reports in the Italian press.
As reported by Il Correre dello Sport via FormulaPassion.it, differences in duration and annual salary are keeping the two sides apart.
The Italian paper has speculated Hamilton is looking for a salary in the $60 million range, with a deal that lasts until 2024 at the earliest. Neither request is likely to sit well with new Daimler boss Ola Kallenius, who is looking to make a significant reduction in costs by 2022.
That said, the Silver Arrows are believed to be considering Hamilton’s terms under the condition he will not go to another team when the deal is up, and will become a Mercedes ambassador upon retirement.
Already the best-paid driver in Formula 1, Hamilton’s current contract is set to expire at the end of the 2020 season.