Mercedes team principal Toto Wolff expects Lewis Hamilton’s future in Formula 1 to be decided in a matter of days.
Speaking on CNBC program Squawk on the Street ahead of the Canadian Grand Prix, Wolff said he hoped contract talks would be held this week.
Hamilton is in the final year of his contract with the Silver Arrows, which nets him $63 million annually.
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Wolff said that while he and Hamilton have a tight relationship, talk of tens of millions often brings some angst.
“We are still talking,” said Wolff.
“You know, we get these questions basically every race weekend.
“We have such a good relationship that we dread the moment that we need to talk about money.
“It is going to happen soon,” he added. “Soon. I think we are talking more days than weeks.
“But if I commit to a date now then everybody is going to ask in Montreal on the weekend, ‘what’s happened to the days?’
“We are trying hard (to get it done before the Canadian Grand Prix). At least I will see him (Tuesday) and maybe we will talk about it.”
Hamilton is unlike any other champion on the grid in that his entire career has been spent with one engine manufacturer.
His stint with McLaren between 2007 and 2012 saw all of his cars powered by Mercedes engines in what was essentially a defacto factory team.
Mercedes went out on its own in 2013 and Hamilton won his first of six titles with the team the following year.
That relationship looks like it will stay intact for the foreseeable future.
“From a team’s perspective, Lewis and Mercedes have gone back a long time. He has never raced for any other brand than Mercedes,” said Wolff.
“Him and me, both joined the team in 2013 together – 10 years it’s been – and from a professional relationship we’ve gone to a friendship. It has been a wonderful time.
“He is the most important personality in the sport. He is so multi-faceted, not only the racing, but also off track, so we need to keep him in the sport for as long as possible.”
With the advent of new regulations in 2022, Mercedes have languished.
For the first time in his career, Hamilton went winless in a season and finished a career-low sixth in the drivers’ championship.
His last win came in 2022 at the Saudi Arabian Grand Prix.
Seven races into the 2023 season, he occupies fourth on 87 points behind Red Bull Racing’s runaway leader Max Verstappen (170), his teammate Sergio Perez (117), and double world champion Fernando Alonso (99) for Aston Martin.
The Formula 1 Canadian Grand Prix gets underway on Saturday with practice before qualifying on Sunday morning and the grand prix on Monday at 4am.
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