Lewis Hamilton And McLaren Are Closing In On A Five-Year Extension

McLaren Managing Dir Jonathan Neal revealed that F1 driver Lewis Hamilton is close to an extension with the British racing team, according to Juline Delfosse of AUTOHEBDO.fr. Hamilton, who has been with McLaren since '07, is currently in the middle of negotiations to extend his deal. The team "seems to have proposed" a new five-year contract worth €25M ($30.9M) annually. However, the F1 driver "wishes to negotiate certain elements, like the trophies, which he would now like to keep." Neal told Sky Sports the sides were close to a deal. Neal: "We are close to a signature and of course, we are still talking. For obvious reasons, I cannot speculate at the moment. We are working hard to reach a deal that satisfies both parties" (AUTOHEBDO.fr, 8/14).