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

Lewis Hamilton and Mercedes have still not reached an agreement on a new contract. The new F1 season starts in about six weeks and so there is some urgency. If we are to believe Toto Wolff however, a deal could be agreed 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."

No new long contract 

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.