Lewis Hamilton’s request for a new contract has been turned down by Mercedes, as reported by The Daily Mail. The disagreement stems from Hamilton’s desire for an additional £15 million to be guaranteed in his next contract, as well as a long-term agreement and a 10-year ambassadorial role post-retirement worth £10 million per year.
However, Mercedes prefers offering a one-year contract with a second-year option and is not willing to commit to the long-term ambassadorial role.
Both parties need to find a middle ground to reach an agreement. Despite the conflicting positions, there is optimism that an announcement regarding the new contract could be made during the F1 British Grand Prix.