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Lewis Hamilton finally signs a new contract for the 2021 F1 season. But there is more to it than you might think.

Seven-time Formula 1 world champion, Lewis Hamilton, had his contract come to an end with the Petronas Mercedes Benz Formula 1 team at the end of 2020. And, as obvious as it might sound that Mercedes has offered him a new contract, it only happened now – just over a month until the start of the new season!

There was a lot of speculation around why this new contract renewal took so long to get signed. The two parties had to find common ground on an agreement that suited them both. Probably, the most realistic view on this matter was that Lewis Hamilton knows his worth and wanted the most out of the deal as possible. Mercedes Benz, on the other hand, has to stick to a budget cap for the 2021 season.

After, quite literally, months of back and forth negotiations between them, they have finally signed a contract which will guarantee Lewis Hamilton a drive for 2021. However, his new contract is only for 1 season, so towards the end of the year, we might see this whole process happen yet again.

Take a look at the video below by YouTube channel, The Race, on The questions posed by Hamilton’s new one-year Mercedes F1 deal.

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