Earlier this week, Hamilton told the BBC: "We are going to do another deal. We're going to sit down and we're going to discuss it in these next couple of months, I would say."

Hamilton’s future in F1 is always up for speculation, given the amount of success he’s enjoyed with Mercedes in recent years, combined with their dramatic downturn in form in 2022.

Hamilton is the second oldest driver on the grid at 37 - only Fernando Alonso is older at 41.

While Hamilton has been unable to win a race this year, he’s still shown regular flashes of being at his very best, particularly in the second half of the year.

He has out-qualified Russell 6-0 since the summer break, beating his younger teammate more often than not on race day.

Speaking ahead of this weekend’s F1 Mexico City Grand Prix, Russell was asked about the prospect of Hamilton signing a new deal.

"It's really exciting to have that potential of Lewis staying on for a number of years to come. I think he's proven that he's definitely not lifted his foot off the throttle pedal and in the last few races, he's performing probably better than ever. 

“It’s really exciting for me to be his teammate and to go directly head-to-head with him, and grow on this journey we are on together because it really does feel like a journey that the two of us are on along with the rest of the team in trying to bring Mercedes back to winning ways. 

“We've got a really great relationship, a transparent relationship. It would be good to be teammates for a number of years to come." 

Russell sits fourth in the championship standings going into Mexico, 16 points ahead of Carlos Sainz and 20 clear of Hamilton.

The former Williams driver would become just the third driver to beat Hamilton in equal machinery, joining Nico Rosberg (2016) and Jenson Button (2011).