Lewis Hamilton will face a reduced pay offer from Mercedes when the two parties resume contract talks at the end of the season.
The news is likely to attract the attention of potential suitors Ferrari and McLaren, Hamilton’s three-year £60m contract with the German Manufacturers will expire at the end of their 2015 campaign.
Hamilton and Mercedes have been the subject of much discussions this season due to a series of incidents involving the Briton and his teammate Nico Rosberg, culminating in a collision in Belgium two weeks ago. Toto Wolff, the team’s motorsport director, warned both drivers that they could split up if there was any repeat.
Hamilton is still happy to be with Mercedes and the company , in turn, admires his skills and commitment. But Mercedes also feel they were bargained to a corner by the driver’s agents when the original deal was signed at the end of the 2012 season.
Mercedes are also now in a stronger position to attract experienced drivers as they have ,by far, the most competitive car in the paddock.
A Mercedes spokesperson commented: “We don’t discuss contractual details.” But at the team’s Stuttgart headquarters there are concerned voices who say Hamilton’s deal is too high. When the contract was negotiated it also included commercial work away from the track that the driver has not been required to fulfil.
Mercedes’ second driver Nico Rosberg recently signed a new deal that will last till the end of the 2017 season. The deal also narrows the pay gap between himself and Hamilton.
Hamilton is less likely to accept a pay cut if he wins the championship this year but if he doesn’t, the driver may either accept the deal Mercedes offers or seek better options with other competitors come 2016.
Talks about a fresh contract between Mercedes and Hamilton were recently put on hold until the end of the year. Wolff said on Friday: “This is an ongoing discussion between us and we very much want Lewis to stay in the team and to enter into a new contract with him – and he wants the same. We have agreed that because the situation is so intense at the moment, we want to get over the season and then intensify the discussions about a contract renewal. It is good and intelligent to put it on hold to fully concentrate on the world championship.”