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Lewis Hamilton 'close' to signing new Mercedes contract but will take £10m pay cut

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Lewis Hamilton is expected to sign a new deal with Mercedes after boss Toto Wolff confirmed talks between the two sides were progressing.Hamilton, 36, signed a 10-month deal worth around £40million earlier in the year but is expected to take a £10million per year pay cut when he signs a new contract.The seven-time world champion’s relationship with the team has transcended sport since he joined in 2013 and a new deal will likely continue their joint commitment to champion greater diversity and inclusion in motorsport.Wolff revealed his optimism surrounding contract talks as Hamilton looks to fight off a challenge from Red Bull’s Max Verstappen, who currently leads the championship.Speaking to German paper Bild, Wolff said: "We have such a.

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