'Mercedes make Hamilton offer for €140m F1 contract'

Lewis Hamilton's contract expires at the end of 2023, but negotiations with Mercedes are reportedly already underway. An offer is said to be on the table for a staggering €70 million per season.

According to Sportune Hamilton has received an offer of no less than €70 million a year. This would be a significant improvement on his current contract, which would bring in around €45 million a year. However, the €25 million bonus for winning the world title would have been scrapped.

The deal would cover the 2024 and 2025 Formula 1 seasons, meaning Hamilton would earn €140 million in two years. Moreover, it would mean he would stay in F1 until he is 40, as the Briton turned 38 earlier this month.

Hamilton recently expressed no intention of hanging up his helmet. He is still in the hunt after an eighth world title, but Mercedes will have to make a big move in 2023 to give him that chance.