Formula 1
Written by

Alla Zakarian

28-10-2020 | 19:18 Formula 1

Lewis Hamilton faces Mercedes contract problem as F1 teams vote to limit wages

Mercedes driver Lewis Hamilton could face a contract problem as Formula 1 teams vote to limit wages. Hamilton has still not signed a deal to continue in F1 with Mercedes for the 2021 season and beyond. Plan to introduce salary caps in F1 have made it a race against time for Hamilton, according to reports. The Brit is expected to sign a deal worth around £40million-a-season. Teams have agreed to a £22m salary ($30m) and was even backed by Mercedes chief Toto Wolff. The cost-saving measure would not start until 2023 and it remains to be seen if Hamilton remains in the sport beyond then. The Daily Mail claim Hamilton is expected to commit to three more years meaning the final year of his contract would be affected. If the new rule is approved before the 35-year-old signs it would mean he would be limited in what he could earn. Hamilton currently earns £35m-a-year. It is likely that the world champion would still be paid his full amount if he agrees to sign before the rule is officially introduced. The salary cap is an extension of the new 2022 rules which will see teams limited in the amount they are allowed to spend.
Source: Express

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