Mercedes Chief Provides Update on Lewis Hamilton Contract Ahead of Canadian GP

• Lewis Hamilton’s current contract is set to expire at the end of the season
• The seven-time champion was linked with a move to Ferrari
• Hamilton is expected to stay in Formula 1 beyond his 40th birthday

Lewis Hamilton's Formula 1 future could be resolved before this weekend's Canadian Grand Prix, according to Mercedes team principal, Toto Wolff.

Hamilton has six months to go on his £40m-a-season deal with Mercedes, but Wolff has said that his superstar driver is on the brink of agreeing new terms.

"It is going to happen soon, and we are talking more days than weeks," Wolff told CNBC's Squawk on the Street programme in New York when asked about Hamilton's contract negotiations.

"We are trying hard to get it done before the Canadian Grand Prix. I will see him today and maybe we will talk about it.

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"We have such a good relationship that we dread the moment that we need to talk about money."

Hamilton, 38, met with Wolff the day after the last round in Spain, in the hope of rubber-stamping a fresh contract with the Silver Arrows.

It is anticipated that the British driver's extension will be a multi-year deal, extending his stay in F1 beyond his 40th birthday.

"Lewis is the most important personality in the sport," added Wolff.

"He is so multi-faceted, not only with the racing but also off track, so we need to keep him in the sport for as long as possible.

"From a team's perspective, Lewis and Mercedes have gone back a long time. He has never raced for any other brand than Mercedes.

"We both joined the team in 2013 together and from a professional relationship, we now have a friendship. It has been a wonderful time."

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Lewis Hamilton’s drivers’ championship chance

As reported by PlanetF1, Hamilton, who is yet to win a race since his contentious championship defeat to Max Verstappen at the 2021 season finale in Abu Dhabi, is already 83 points off the title pace this year.

But Mercedes' recent upturn in form has provided Hamilton, who finished runner-up to Red Bull's Verstappen at Barcelona's Circuit de Catalunya, with renewed hope that his dream of a record eighth world title is not over.

However, Wolff warned: "The result in Spain was a well-deserved reward for everyone's efforts at Brackley and Brixworth to bring our update package to the track.

"We were pleased with how it performed, and it will provide a new baseline for us to build from."

Mercedes to rival Red Bull?

Earlier, Sports Brief reported that former Formula 1 champion Damon Hill believes Mercedes can rival Red Bull for the constructors’ title in subsequent seasons.

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Hill believes catching Red Bull seems an impossible task in 2023, with the Milton Keynes team 135 points clear in the Constructors’ standings and Verstappen 71 clear of anyone besides his own team-mate in the Drivers’.

It remains to be seen if the Silverstone team will be able to affect the necessary upgrades in their team to overthrow Red Bull as the current kings of Formula 1.