F1 Rumors: Mercedes Geared To Meet Lewis Hamilton's Hefty Demands

The Mercedes AMG F1 team seems to have made a breakthrough with regards to reaching an agreement with seven-time world champion Lewis Hamilton over a new contract for the 2021 season and beyond.

Hamilton remains a free agent after his previous contract expired at the end of 2020 and was holding talks with Mercedes over a new deal.

Multiple reports claimed that their first offer was rejected by the Briton after his demands were not met.

Among those demands was Hamilton’s salary in the succeeding years. He is keen to remain the highest-paid driver in the sport’s history and wants his current £40 million ($54.3 million) salary unmodified when he signs the new agreement with the company.

Apart from his wages, Hamilton is also looking at the possibility to get a slice of Mercedes’ prize money in championship wins to come along with special perks like acquiring the special-edition Mercedes AMG One.

Though the Daimler board of directors is said to be unhappy with the racer’s hefty demands, team principal Toto Wolff has been tasked to iron out the negotiations with Hamilton.

However, according to Italian publication Corriere Della Sera, Mercedes has found a way to appease Hamilton without burning assets in the long run.

Mercedes is said to be ready to pay him his asking price while also potentially offering him a long-term contract which he desires.

The automobile organization received the much-needed financial backing after British multinational chemicals company INEOS strengthened its ties with Mercedes after purchasing a one-third stake in the team.

Jim Ratcliffe, the chief executive officer of INEOS, is reportedly eager to retain Hamilton for the foreseeable future as the businessman is gearing towards covering a large portion of his salary.

Wolff, meanwhile, does not seem too worried about the delay. He remains optimistic that a solution will be laid out. In addition, he bared that the front office elected not to set a deadline as long as it is done prior to the commencement of the new season.

“We are not worried about eventually getting it done... We are not putting a special date to it because we don't want to be under pressure,” Wolff said, as quoted on Give Me Sport. "Sooner or later, it needs to be done, and at the latest [is] before we go testing.”