F1 News: Toto Wolff Confirms Lewis Hamilton Mercedes Contract Is Coming

There have been multiple rumors across the paddock of Ferrari being ready with $48 Million for Lewis Hamilton. However, Toto Wolff says otherwise.

Lewis Hamilton joining Ferrari for $48 Million was quite a hot rumor that spread like wildfire. Why wouldn't it? After all, his contract with Mercedes ends this year. 

Adding to the rumor is the fact that Mercedes is struggling to fight for podium finishes, despite the new upgrades showing significant improvement. Maybe, people weren't sure if a strong and determined driver like Hamilton would stick around. 

Hamilton had denied the rumors. Now, Mercedes team Toto Wolff has come out in the open and dismissed the $48 Million Rumor. Instead, he says that Mercedes will be extending the contract with Lewis Hamilton in a week's time. 

Toto Wolff told Sky Deutschland:

 “Everyone is creating rumors on this subject. I am very confident, in a few weeks, we will meet and sign the renewal of the contract. There is no reason not to continue, one of his strengths is his constant hunger, he is a great sportsman as well as an extremely motivated and determined person.”

Christian Nimmervoll- the editor-in-chief of the platforms of Motorsport Network Germany has suggested that Lewis Hamilton stay at Mercedes to reap post-retirement benefits. He could become a Mercedes brand ambassador after he retires from F1 but only if he continues his career with Mercedes. 

He goes on to say that Lewis Hamilton has achieved marvelous results with Mercedes and his name could be up there with Sir Stirling Moss if he decided to stay.

Talking to motorsport-total.com, Christian Nimmervoll said:

“Remaining loyal to the Mercedes brand as a racing driver would have a completely different advantage because then he can be a Mercedes brand ambassador until his death. Even at 75, he can still wear the star on his car breast come into the paddock and get a bit of pension money for it. If he really decided to go somewhere else again, he probably wouldn’t do it.” (Translated Via Google)

Is the $48 Million rumor true? Is Mercedes trying their best from allowing Lewis Hamilton to slip away? 

What do you think?