Hamilton, who has previously said that a new deal with the team was “99.6 per cent done” only to see talks drag on for longer than anticipated, is finally set to agree a massive £120 million contract, according to widespread reports.
The double world champion is set to pocket £40m-a-year as part of the new deal and will sign it before the start of the Monaco Grand Prix, reports the Daily Mail.
At the world’s most glamorous F1 race, Hamilton - who leads German team-mate Nico Rosberg by 20 points in the championship after five races - is set to become the highest paid driver on the grid, alongside Ferrari’s Sebastian Vettel.
Nico Rosberg's Spanish smile is perfect riposte to Lewis Hamilton taunts
The Mail’s Jonathan McEvoy quotes Hamilton as saying after the Spanish Grand Prix, “I will have some news for you in Monaco”, and concludes that the contract saga will duly be over.
The 30-year-old has reportedly asked to keep his image rights, his trophies and his winning F1 cars, which would be very unusual given that teams tend to keep them in a trophy cabinet at their main offices.
Nico Rosberg beats Lewis Hamilton to win Spanish Grand Prix
Hamilton, who is looking after his own negotiations with the help of a lawyer, has in the past been "'resentful of having to give back annual prizes', according to the Mail, and is not happy to settle for replicas.
The reports of Hamilton being poised to finally end his torturous negotiations with Mercedes come after Ferrari team principal Maurizio Arrivebene categorically ruled out signing the Brit, leaving him without a potential contender for his services.
In what is an unusual deal with Hamilton having negotiated the terms of the contract without the help of former manager Simon Fuller, the Championship leader will not have to share his very substantial earnings.
source:eurosport