Both Mercedes team boss Toto Wolff and Hamilton have indicated that the key terms, including financial terms and the duration of the contract, have already been agreed upon. The delay in finalizing the contract is attributed to minor details that need to be addressed.
Hamilton has a history of signing new contracts relatively late. In 2021, he signed a one-year extension on the eve of pre-season testing, and six months later, he inked a new two-year deal, extending his contract until the end of 2023.
