F1 Rumour: Ferrari Set To Offer Lewis Hamilton Eye-Watering Contract

According to reports, Ferrari is in contact with Lewis Hamilton to offer him a contract for 2024.

Ferrari is allegedly making plans to offer a lucrative contract to Lewis Hamilton in an attempt to entice him away from Mercedes.

Hamilton's current contract with Mercedes is set to expire at the end of the ongoing season. Despite the Brackley-based squad experiencing a decline in performance, the 38-year-old driver has expressed his desire to continue with the team beyond 2023. Mercedes team boss Toto Wolff has also expressed confidence in Hamilton's future with the team with contract negotiations currently ongoing.

However, according to reports from Mail Sport, Ferrari chairman John Elkann is in regular contact with Hamilton and is preparing to present a significant offer to bring him to the Ferrari team. The rumoured figure being discussed is £40 million per year.

If Hamilton were to sign with Ferrari, it remains uncertain who his teammate would be. Both Charles Leclerc and Carlos Sainz have contracts with Ferrari until the end of the 2024 season. Recently, there have been rumours of a potential switch for Leclerc to Mercedes, especially considering Ferrari's challenging period. In response to the rumours, Leclerc stated his current focus is on Ferrari, expressing confidence in the team's future.

The possibility of a direct swap between Hamilton and Leclerc is being considered, while the report also suggests that Ferrari may part ways with Sainz to accommodate a Hamilton-Leclerc pairing.

Hamilton has faced difficulties with Mercedes over the past 18 months, as the once-dominant team has slipped in performance. After winning eight consecutive Constructors' Championships from 2014 to 2021, Mercedes struggled to adapt to the new technical regulations introduced last year. Hamilton experienced his first winless season in Formula 1 and has not been in a position to challenge for the top positions in the 2023 races so far.

Similarly, Ferrari has also faced challenges this year, achieving only one podium finish in the first five races while Red Bull has dominated the field.

Despite the reports, it seems a long shot for the seven-time champion to move away from Mercedes where he has now been for ten years. Hamilton has built strong relationships with Wolff and those behind the scenes, as well as the Accelerate 25 programme which is pushing for increased inclusivity and diversity in the sport, something that Hamilton is passionate about.