Mercedes will not extend Hamilton's contract by three years: 'Announcement soon'

However, the team boss of the German racing team does not want to pin down a date. When asked by RTL if an announcement is imminent, Wolff replied: "Soon is a flexible term, but yeah soon."

The question of course is what duration Hamilton's contract will be. In all honesty, the Austrian doesn't think Hamilton will be awarded a three-year contract. "I don't assume that. We see in the near future a development not only with the cost cap but also with the technical regulation and you have to keep your eyes open, so we are still discussing what the right term is."

According to the latest rumours, Mercedes and Hamilton are therefore mainly arguing over the length of the contract. Hamilton is aiming for a three-year deal, while Wolff's team reportedly does not want to go much further than a one-year deal. It is possible that both parties will soon agree to a two-year deal.