Lewis Hamiltons New $92 Million Mercedes Contract Is The Biggest In Formula 1 History

Lewis Hamilton is set to put pen to paper on a historic new deal with Mercedes worth $92 million AUD a year, ending speculation around the seven-time world champion's future ahead of the 2023 Canadian Grand Prix.

Even if you don't know anything about Formula 1, you'll still know Lewis Hamilton's name. Such is the famed status of one of the sport's greatest-ever (statistically, the greatest ever) drivers that his unprecedented successes behind the wheel of an F1 car are only a part of what makes him such an influential character both on and off the track. One of the world's most prominent athletes, not only is he unbelievably quick, but Hamilton exemplifies how sport can be a catalyst for positive change, proving that the impact of a true champion extends far beyond victory on the track.

Results for the GOAT this season, however, have fallen way below expectations, and speculation surrounding Hamilton's future has been increasing with each passing race. With the Brit entering the final year of his reported $74m AUD a year contract, both Hamilton and Mercedes team principal Toto Wolff will be pleased to have committed to a continued partnership for many years to come.

“It is going to happen soon, and we are talking more days than weeks. We are trying hard [to get the deal signed before Montreal]."

Toto Wolff

Lewis Hamilton and Michael Schumacher have both won a record seven World Championships. Image: Getty

Since making the switch from McLaren back in 2013, Lewis Hamilton's partnership with Mercedes has proven to have been a match made in heaven, resulting in the most dominant force on the grid over the last 10 years. Together, they've added six championships to Hamilton's maiden title with McLaren in 2008, matching the record set by the legendary Michael Schumacher.

And with news of a new contract in the works, both Hamilton and Wolff will be desperate to add an eighth World Championship to make Hamilton the most decorated driver in the history of the sport. “Lewis is the most important personality in the sport," Wolff has reaffirmed, backing his champ to the hilt.

There's just one problem: Red Bull's car is fast. Really fast. Max Verstappen has won all but two races this year, with teammate Sergio "Checo" Pérez taking first place in Saudi Arabia and Miami to ensure a clean sweep for Red Bull Racing across the board this season to date. They've been scintillatingly quick this season and are on track to surpass the 205-point margin achieved in last year's Constructors' Championship.

“I have definitely never seen a car so fast.”

Lewis Hamilton speaking on Red Bull's performance this season

WATCH Lewis Hamilton talk about the importance of weight and exercise in achieving maximum performance in Formula 1 below.

Although it's been a disappointing year for Mercedes, the team made great strides in Barcelona following crucial upgrades to the car, securing a first double podium of the year with Hamilton finishing second and teammate George Russell claiming third. But Hamilton will be undoubtedly hoping for even better results as we head into the latter stages of this season.

Speaking ahead of the Canadian Grand Prix, he said: "I am hoping by Silverstone we would have taken another step so I am hopeful maybe that will be a race where we can actually race them.”

Lewis Hamilton currently sits in fourth place in the Driver Standings and is without a win since 2021, during the season he lost to Max Verstappen in dramatic circumstances. With this new deal, Mercedes and F1 keep one of the sport's most important figures on the grid for years to come, and Hamilton will be prepared to fight to be competitive with Red Bull once again. It's still Hammer Time.

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