Lewis Hamilton Signs Two-Year Contract Extension with Mercedes-AMG F1 Team

Lewis Hamilton Signs Two-Year Contract Extension with Mercedes-AMG F1 Team

by July 3, 2021 1 comment

With a couple of major moves in NASCAR over the last couple of weeks, we now head over across the pond for some big Formula 1 news. After just singing a year-long pact for 2021, Lewis Hamilton has officially agreed to a new two-year contract with Mercedes-AMG Petronas Racing. This new deal will take the seven-time World Drivers Champion into his 16th year in Formula 1. As well as taking himself to race at age 38 in the year 2023.

For more on the major NASCAR, moves, check out here and here.

Team Announcement

Here is what Hamilton had to say on his brand new contract in the official team press release from Mercedes.

“It is hard to believe it’s been nearly nine years working with this incredible team and I’m excited we’re going to continue our partnership for two more years…We’ve accomplished so much together but we still have a lot to achieve, both on and off the track.”

Mercedes Team Principal Toto Wolf meanwhile said this on his team’s big move.

“[Hamilton] knows pretty well how he feels about racing, that passion burns strongly…We talked about retirement and it’s always really important to have that flirt with retirement, but equally be in control of your own destiny. There is so much passion for the sport that I can see him going for a while.”

Vague Contract Details

Outside of the two-year term that is known, the money Hamilton is making here is not. However, the monetary value on motorsports contracts is almost always kept close to the vest. According to RaceFans.net, Hamilton is making an estimated $30,000,000 (USD) on his current one-year deal. He is the highest earner among all Formula 1 drivers, as he has been consistently over the last decade. With that in mind, his new deal should be around that $30 Million range based on that initial estimate.

End of The Road?

As previously stated, Hamilton will be 38 by the time his new contract with Mercedes ends in 2023. For context, Micheal Schumacher’s main run from 91-06 ended when he was 37 years old. With that in mind, this could have very well been Hamilton’s final contract as a Formula 1 driver. He does not have many more records to break as it is.

Not even mentioning Max Verstappen currently in the lead of this year’s championship, Hamilton’s hopes for eight titles could be out of reach. This is due to multiple factors. RedBull Honda seemingly figuring it out with the car. As well as the brand new car set to hit F1 in 2022. Which looks to make the racing more competitive.

As it stands as of this moment, Hamilton has sole possession of over 40 Formula 1 Records. Most notably being his 98 wins, 100 poles, 59 wins from pole, and most points in a season in 2019. This also includes wins at 29 different tracks, most podiums in a season, as well all time, at 17 and 171 respectively. With the end of the road clearly in sight, Hamilton now looks to add to his legacy as one of Formula 1’s all-time greats.

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