F1 | Ferrari’s 48 million offer to Lewis Hamilton was not enough. Ferrari's 48 million offer to Hamilton was not enough.

In a whirlwind of speculation, interest skyrocketed when it was revealed that Ferrari was ready to offer an extraordinary amount to Lewis Hamilton to acquire his services. Although money has never been a decisive factor for the British driver in changing teams, his admiration for Ayrton Senna, who was supposed to race for Ferrari in 1995, and his family’s desire to see him drive for the Prancing Horse team, fueled strong doubts about the chances of the seven-time Formula 1 world champion moving to Ferrari.

However, as revealed by Motorsports Total, it seems that Toto Wolff and his team turned the tables on the Maranello-based team. Despite Ferrari being willing to offer Lewis Hamilton 48 million dollars, the seven-time champion already earns more money with Mercedes. This is because Lewis Hamilton has maximum freedom in managing his commercial image according to his current contract, unlike how Ferrari generally manages image rights of drivers for business reasons.

When both parties were specifically asked to clarify the rumors, both sides denied the existence of such discussions.

After the Spanish Grand Prix, we heard Lewis Hamilton hint at possible contract renewal talks with Toto Wolff. The 38-year-old driver has handled all his contract negotiations himself over the years. However, the seven-time champion has chosen to remain silent and let the team handle the discussions on the new contract with Mercedes this time.

Lewis Hamilton wants his team to discuss contract renewal with Toto Wolff

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The current contract Lewis Hamilton signed in 2020 was for three years and will expire at the end of the 2023 Formula One season. Furthermore, the 38-year-old driver is eager to extend his agreement with the Silver Arrows. We had a clue about this at the Spanish Grand Prix when the seven-time champion said he will meet with Toto Wolff and “get something done” following previous statements from both Toto Wolff and Lewis Hamilton that a contract extension will be “signed over a coffee.”