F1 Rumor: Lewis Hamilton ‘willing to take pay cut’… but…..

Lewis Hamilton is reportedly willing to take a pay cut to stay with Mercedes until the end of next season, but the Brit wants his bonus for winning the world title doubled.

The 36-year-old seven-time world champion only signed a one-year extension in February but has already been in negotiations for some time over a new deal, with Mercedes chief Toto Wolff setting a June 15 deadline for talks to be concluded.

Hamilton backed down on his initial £40million-a-year demands for this season, accepting his previous basic salary of £34m, and Brazilian website motorsport.com report that he is willing to take a pay cut for next season given the financial constraints of the Covid-19 pandemic.

The proposed new deal will be for one year but will include an option to be extended by another year – thru the 2023 season.