That’s a lot of money! The Mercedes boss has spoken again about a new contract for Hamilton. How much is he going to earn?

Seven-time Formula One world champion Lewis Hamilton is entering the final season of his current contract with Mercedes. The boss of the German stable has recently spoken out again on the subject of a new contract, with the latest reports suggesting that the 38-year-old British driver is set to earn a hefty sum of money.

As we reported in a previous article, it is only a matter of time before Hamilton extends his current contract with his current team.

This was confirmed by Mercedes boss Toto Wolff in his recent statement, who added more statements in the last few dozen hours. However, he has spoken not only on the new contract but also on the subject of his political activities.

Wolff’s statement

“We still have a whole year to go. We’ve aligned ourselves so much over the last 10 years that it’s just a matter of physically going back to Europe, putting our heads together, having a bit of a row and leaving the room after a few hours with a clear agreement,” Wolff said in an interview with Racing News 365.

However, as we wrote above, the Mercedes boss also weighed in on the subject of his political activities. Hamilton was a driver who also used F1 to promote his ideas on equality and human rights.

Then, at the end of 2022, the FIA made changes to the International Sporting Code (ISC) which effectively mean that drivers must now seek approval from the governing body before they can make any political statements.

“We haven’t talked about the political situation because we don’t have a season at the moment and I think it’s important to protect ourselves from F1. Once they come back, I’m sure these things will be discussed with a sort of positive mindset,” Wolff added.

And finally – a specific amount

However, in addition to the words of the German team boss, we already know the information about how much Hamilton is expected to earn newly. Allegedly.

The French server Sportune has reported that Mercedes has offered Hamilton a new two-year contract that will see him earn $70 million a year. According to the current terms, the seven-time world champion has a base amount of 45 million in his contract, plus another 25 million as a bonus if he wins the title.

This bonus, according to the aforementioned site, will not be in the upcoming deal and Hamilton will therefore earn 70 million euros already in terms of base income. Without bonuses. Also interesting to note that, as in the previous deal, some of the money will be used to fund Mission 44, to the tune of 15 million euros a year.

But that’s not all. Sportune also writes that the current contract includes one specific component, which is Mission 44 and the Ignite program. This is because Hamilton has committed to invest eight million euros a year in its social projects. And the new contract should again include this.

Last but not least, there is another, equally important aspect. Hamilton is also seeking an ambassador contract with the Daimler Group (Mercedes-Benz). Thanks to this, he would earn 25 million euros a year after the end of his career as a result of promoting the German brand.

Sources: Sportune, Racing News 365