Details of Lewis Hamilton’s new contract with Mercedes

Lewis Hamilton’s new contract with Mercedes may reportedly generate significant income for him, extending beyond his F1 career and potentially continuing until he reaches the age of 50.

Lewis Hamilton, who is currently 38 years old, is in negotiations to sign a new contract with Mercedes, which would extend his Formula One career by one year.

According to Sportune, a sports-business source, the following figures are reportedly a part of Lewis Hamilton’s new contract deal with Mercedes:

According to Sportune, a sports-business source, Lewis Hamilton has been offered to continue on his current salary of €35m (£31m / $38m) per year.

However, according to Sportune, a sports-business source, Lewis Hamilton will be receiving a salary of €45m (£40m / $49m) per year in his new contract with Mercedes.

Lewis Hamilton will receive a €25m (£22m / $27m) bonus if he wins the Formula One World Championship in his new contract with Mercedes.

The new deal with Mercedes is reportedly a two-year deal, covering the seasons of 2024 and 2025, according to Sportune, a sports-business source.

Lewis Hamilton has long been the top earner among Formula One drivers, ahead of Red Bull’s Max Verstappen, and this new contract will solidify his position as the highest-paid driver in the sport.

The report from Sportune highlights that a key demand from Lewis Hamilton in his new contract with Mercedes is a commitment from the team to support Mission 44, Hamilton’s foundation.

Mission 44, Lewis Hamilton’s foundation, currently receives €8m (£7m / $9m) in annual funding from Hamilton himself. This figure will reportedly increase to €15m (£13m / $16m) under the new contract with Mercedes.

The new contract between Hamilton and Mercedes may extend beyond his F1 career and potentially continue until he reaches the age of 50. However, as this is not confirmed by both parties, it should be considered as speculation.

The report from Sportune suggests that there are ongoing discussions between Hamilton and Mercedes to keep him on in a special ambassadorial role after his two-year contract expires. Additionally, it is reported that Hamilton has asked for a 10-year commitment from Mercedes in this role.

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This ambassadorial role would reportedly earn Hamilton €25m (£22m / $27m) from Daimler Group, the parent company of Mercedes-Benz.

Lewis Hamilton is known for his philanthropy and generosity. He has been actively involved in various charitable initiatives and organizations over the years, such as Mission 44, his own foundation. He has also been a vocal advocate for various causes, including climate change and racial equality, and has donated a significant portion of his earnings to charities.

According to the Sunday Times Rich List in 2022, Lewis Hamilton was named as Britain’s fifth-most generous philanthropist. He has been actively involved in various charitable initiatives and organizations over the years, such as Mission 44, his own foundation. He has also been a vocal advocate for various causes, including climate change and racial equality, and has donated a significant portion of his earnings to charities.

In the 12 months prior to 2022, Lewis Hamilton donated £20m, which is calculated to be 6.7 percent of his net worth. He has been actively involved in various charitable initiatives and organizations over the years, such as Mission 44, his own foundation. He has also been a vocal advocate for various causes, including climate change and racial equality, and has donated a significant portion of his earnings to charities.

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