![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/lewis-hamilton-announces-bumper-new-100m-mercedes-deal-is-very-very-close/&media=https://uknews.evprotec.com/wp-content/uploads/2023/07/crop-23123649.jpg&description=CASH BACK Published : 18:59, 20 Jul 2023 Updated : 18:59, 20 Jul 2023 LEWIS HAMILTON says he is closing in on signing his new Mercedes deal, worth around £100million. The seven-time F1 world champion is out of contract at the end of the season. 2 Lewis Hamilton is closing in on a new £100m Mercedes deal Credit: Getty He currently earns £40m a year with Merc, while rival Max Verstappen is on £37m with Red Bull. Hamilton's new contract is now set to blow the Dutchman's out of the water at around £50m a year. And he says his new deal is in the hands of the lawyers. Hamilton, 38, was quizzed by SunSport ahead of this weekend's Hungarian GP about the progress over the new deal, which is expected to be a two-year extension. He said: "I actually like these questions, so you can keep them going… It's very, very close." When asked if it would be tied up before the summer break after next week's Belgian GP, he added: "Nope... It might be announced at the end of the year. I might keep you waiting! "Honestly, I don't have any more information for you to share. It continues to be with the lawyers, back and forth on things. "I've not been part of it the whole time. I've been removed from it from the beginning. "I've been wanting to focus on all the other things I have going on. The team has been working on it in the background. "There's no negotiation left. It's just all the small bits.' Meanwhile, Hamilton was also quizzed about rumours that up to three teams have breached the cost-cap limit. Teams were limited to spending $140m (£109m) in 2022 to develop their cars with reports in Italy claiming teams have fallen foul of the rules. Red Bull were fined $7m (£5.5m) last year and given a 10 percent reduction in wind tunnel time as a punishment for last year's breach. Hamilton said: "It's definitely a concern. I mean, it wasn't really a big punishment last time so there's no real [deterrent]. Complete F1 2023 race calendar - details on every Grand Prix this year 2 "There'll be){kind=link}
LEWIS HAMILTON says he is closing in on signing his new Mercedes deal, worth around £100million.
The seven-time F1 world champion is out of contract at the end of the season.
He currently earns £40m a year with Merc, while rival Max Verstappen is on £37m with Red Bull.
Hamilton’s new contract is now set to blow the Dutchman’s out of the water at around £50m a year.
And he says his new deal is in the hands of the lawyers.