Finance may be issue for Hamilton

LEWIS Hamilton’s failure to put pen-topaper on a new Mercedes contract is due to the “grotesque” amount of money involved, rival team boss Christian Horner has claimed.

The Briton (33) is yet to sign on the dotted line of a new deal estimated to be worth up to £40 million-a-year which is proving an unwelcome distraction for Mercedes.

Hamilton and Mercedes claimed at their Silverstone car launch in February that his contract extension was likely to be rubberstamped before the season-opening race in Melbourne.

However, more than three months later, they appear no closer to striking an announcement with Hamilton stating this week he is not in a rush to get the deal over the line.

Mercedes boss Toto Wolff emphasised again in Monaco he is confident Hamilton will extend his stay beyond the end of this season.

“We haven’t set a fixed date where we want to announce but I can tell you I don’t see a reason why this shouldn’t be happening,” Wolff said.

“This is a work in progress and we see no hurry to pressurise each other into signing a document that will eventually happen.

“We’ve had good conversations and there is no desire for him to leave the team – and we have no desire to lose him.”

However, Horner, whose Red Bull drivers set the pace in both practice sessions for Sunday’s Monaco Grand Prix, believes cash is the contributing factor to the ongoing hold-up.

“I imagine a delay can only involve money,” Red Bull team principal Horner said.

“I should think it is such a grotesque amount of money Toto’s talking about.

“It is probably what’s making his and Mercedes’ nonexecutive chairman Niki Lauda’s eyes water at the moment.”