McLaren F1 team is all set to offer Lewis Hamilton a new deal worth around £60 million for next three year, £20 million per season. Other than any deal is unlikely to be signed until later this summer, or even this autumn, as the finer points are hammered out and Hamilton continues to assess his options.
Hamilton is coming to the end of his current five-year deal, worth around £15million per season, with the Woking team believed to be prepared to increase his salary to around £20million.
Although another five-year deal has been mooted, a more standard contract of three years, with a break clause after two, would probably make more sense for the 27-year-old.
According to the Telegraph, ‘the real sticking point, and one reason negotiations may drag on over the summer, concerns the leeway in the contract with regard to Hamilton’s commercial rights.
‘XIX Entertainment, Hamilton’s management company, is keen for greater freedom to be inserted into any new contract which would allow him to promote his own brands or pursue his own projects.
‘It may be that a lower basic salary is accepted which would allow Hamilton more control of this area.’
Telegraph added that discussions are expected to heat up around July and August as Simon Fuller, XIX’s chief executive, will be in London for the Olympics.
In the meantime, the Daily Mail quotes Sky commentator Martin Brundle as saying that sponsor commitments will be key to Hamilton’s future.
“Will McLaren allow him some space and sometime of his own to sell? I think that will be more of a key factor than a couple of dodgy pit stops, frankly,” Brundle said.
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