George Russell is closing in on a new multi-year contract with Mercedes, which could see the Briton earn £30million a year.
Talks surrounding Russell’s contract have accelerated over the last few weeks, and it appears only the minor details are yet to be worked out.
Mercedes has pushed for a conclusion ahead of the summer break, but Russell’s team has been combing through the new contract before they agree to sign it.
The main sticking point at the moment is the amount of sponsorship obligations that the Briton will have to undertake.
George Russell appears set to stay at Mercedes
|Getty
Mercedes has accepted that Max Verstappen will be unavailable for 2026, as he was within the parameters to keep him in his Red Bull contract for 2026, and now the Silver Arrows have turned their attention to their current drivers.
The Dutchman was 28 points ahead of Russell following the conclusion of the Belgian Grand Prix, meaning it is impossible for him to activate the release clause that required him to be outside of the top three by the time of the summer break.
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Mercedes is now set to offer the Briton the No1 spot within the team amid Verstappen’s unavailability, and stick with Kimi Antonelli in the second seat.
Russell had been aiming for a contract closer to that of Verstappen and his former teammate Lewis Hamilton, who are each on £60m a year.
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George Russell has won four races for Mercedes
|Getty
However, the pair have 11 world championships between them, which in comparison to Russell’s four Grand Prix victories pales in comparison.
He also does not have the global fan base of the two figureheads of F1, and the commercial revenue the two bring to their teams and the sport as a whole.
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Mercedes has spoken to Russell regarding his sponsorship obligations, and MailSport has reported he can reduce the amount he chooses to do; however, that will be reflected in his salary.
The £30million contract does put him on par with other race winners on the grid, with the likes of Ferrari’s Charles Leclerc and McLaren’s Lando Norris on similar contracts.
Toto Wolff appears to have conceded he won't get Max Verstappen to Mercedes
| PA Images
A multi-year deal is a vote of confidence from Toto Wolff, who has been regarded as a “horrible” negotiator by former driver Nico Rosberg, though it remains to be seen what options lie outside of the Silver Arrows for George Russell over the next few years.