Lewis Hamilton has reportedly been offered a sum in the region of £40m to make a shock switch to Ferrari next year.
The 38-year-old, who has won six of his seven world titles at Mercedes since joining the Silver Arrows in 2013, is currently stalling on extending his current contract which expires at the end of the season.
While both Hamilton and Mercedes boss Toto Wolff insist a new deal will be agreed, Ferrari have now reportedly entered the race for the seven-time world champion with a lucrative offer.
After the Daily Mail stated a £40m-a-year offer was in the works, Italian outlet Gazzetta dello Sport now report that a multi-million pound offer has been made to land Hamilton.
The latest update, however, adds that the potential deal has obstacles and is complicated, particularly given Hamilton’s vocal insistence that he will stay with Mercedes for “life” despite his latest contract stand-off.
Ferrari president John Elkann has already been in contact with the Brit and his team.
The report in the Mail adds that one possible scenario is for Hamilton to replace current Ferrari driver Charles Leclerc, in what would amount to a straight-swap deal with the Monegasque joining Mercedes to partner George Russell.
The other, more favourable, option is to pair Hamilton with Leclerc, meaning Ferrari would look to offload Spanish driver Carlos Sainz.
With Hamilton’s current contract close to the £40m-a-year mark anyway, money would not be the predominant factor in his decision-making.
Instead, the competitiveness of both cars compared to current runaway leaders Red Bull would be of greater significance, as Hamilton targets a record-breaking eighth world championship in his final years in the sport.
While Mercedes, the dominant team in the hybrid era from 2014-2021 with eight-straight constructors’ crowns, took a backwards step in 2022, Ferrari burst to the front of the field with a potential championship-winning car.
Leclerc’s challenge was foiled by reliability problems and strategic errors, as well as a few mistakes himself, and Ferrari have struggled at the start of this year too despite Fred Vasseur replacing Mattia Binotto as team boss.
Mercedes are poised to bring new upgrades to this week’s race in Monaco – with a new floor, sidepod design and front suspension in the works.
The modifications were set to come in at Imola last week before the race was cancelled due to flooding in the Emilia Romagna region.
Whether Mercedes can haul in the deficit to Red Bull out in front – by 128 points in the constructors’ standings – this season remains very unlikely, but Hamilton will want to be encouraged that his team are taking a positive step before signing a new contract.
Hamilton has been linked with Ferrari in the past, particularly surrounding contract negotiations in 2019, but stated at the time there were “things that don’t mirror my values and approach.”
"The Ferrari thing is not going to happen, I think," he said then.
"I’ve always been positive about Ferrari. I watched Michael win there. I’ve always been a Ferrari fan. I remember one of the first cars I ever bought was a Ferrari. And I think it’s a hugely iconic team and brand, particularly.
"I think the team has, in my period of time. There have been things I’ve seen that I don’t necessarily feel mirror my values and my approach. However, it is a team that every driver, I think, has dreamed of what it would be like to sit in the red cockpit.
Hamilton has not won a grand prix since December 2021, in Saudi Arabia, and a race later missed out on a record-breaking eighth crown in controversial and dramatic circumstances in Abu Dhabi to Max Verstappen.
Currently, Hamilton is level in the all-time leaderboard on seven F1 world titles with Ferrari icon Michael Schumacher.
Hamilton could, possibly, also be swayed by the fact that hero Ayrton Senna was poised to join Ferrari in 1995 before his fatal crash at Imola in May 1994.
Red Bull is not seen as a realistic option for Hamilton, with Christian Horner saying as much in April, while Aston Martin are content with their current driver pairing of Fernando Alonso and Lance Stroll.
Hamilton currently trails championship leader Verstappen in the standings this season by 63 points after just five races.
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