Hamilton travels in F1’s money lane

HOCKENHEIM, GERMANY • Formula One champion Lewis Hamilton thanked Mercedes for indulging him as he finally signed a new contract, ending months of stalling and growing speculation over his future.

With his previous contract set to expire at the end of this year, the four-time world champion penned a new agreement until 2020, when the current set of F1 regulations end. No figures were given, but the bumper deal is reportedly estimated at $52 million per year.

Talks began early this year with Toto Wolff, the team’s head of motorsport.

Hamilton negotiates his own deals and, by his own admission, he was the one holding things up.

“Obviously it’s been drawn out (through) my fault, really,” Hamilton told reporters at the Mercedes motorhome at the German Grand Prix on Thursday. “I really appreciate Toto being so patient with me, because I’m not the easiest. I think most people would not have been given the time frame I chose to take.”

Hamilton acknowledged the delay fuelled speculative talk within his own team.

“I’m sure there were questions and discussions over lunch: ‘Is he staying? Is he going?” Hamilton said. “It’s great we can now embark on hopefully a really strong future together.”

Hamilton insists his mind was only on continuing with Mercedes.

“One thing it shows is the trust we have between each other,” Hamilton added. “I said (to Wolff ) from Day 1: I’m not looking anywhere else, I’m not talking to anyone else. I’m not investigating to see what other options there are, I’m not playing you against anybody else.”’

But while Hamilton made it clear he did not approach other teams, he said he was contacted.

Asked directly if it was by Ferrari and Red Bull, Hamilton replied: “One did but I didn’t give it any (thought).”