Hamilton rejects new Mercedes contract, Daimler keeping Russell option open

Toto Wolff has been arguing for months that the extension of Hamilton's contract should not be a problem, but according to Italian outlet Corriere dello Sport demands over a four year deal seem to be a concern with the team keeping George Russell in mind.

Hamilton could earn 40 million a year, on top of which there would be a 10% bonus for winning the World Championship. Reportedly, the 35-year-old driver has rejected that offer. We do not know what Hamilton's counter-proposal was.

Wolff would be prepared to wait for Lewis' decision until the winter tests in Barcelona. However, Ola Kallenius, Chairman of Daimler, is not of the same opinion and is putting pressure on Wolff to close the deal as soon as possible. The Swedish top man also thinks it is fine to promote Russell and would be prepared to do so if it came to it. Taking the young driver away from Williams is no problem, as Russell is still a Mercedes junior.

The problem seems to be that Hamilton's attitude cannot count on the approval of Daimler's board of directors. Mercedes' parent company has given Wolff a full mandate to close the deal as soon as possible, but the Austrian team boss has been given a list of conditions and restrictions.

Mercedes, too, are suffering from the coronavirus crisis. The German brand has therefore announced heavy cuts and are reluctant to offer Hamilton such a hefty salary increase.