Hamilton’s current deal with Mercedes runs out at the end of F1 2023.

Despite their stuttering form, Hamilton has insisted that he wants to remain with the team that he’s enjoyed so much success with. 

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Hamilton has won six of his seven titles with Mercedes, becoming F1’s greatest-ever driver, statistically-speaking at least.

While Hamilton is expected to put pen to paper in the coming months, a deal has yet to be agreed.

Speaking to ESPN, Wolff admitted that the topic of money has been “super awkward” to discuss given the German’s close relationship to Hamilton.

"Every three years we know that we have this moment," he said. "And it's like negotiating financial terms with your best friend, with a close friend.

"How do you tackle that? Normally you don't have such a situation.

"I want the best for him, but in that role I need the best for the team. That can be the only time in our ten or 11 years when we are together and our objectives diverge.

“"At the end of the day, talking about money with your friend is difficult.

"Penny [Thow, Hamilton's manager] helps. Penny has been keeping us in check and we have found a good modus operandi with her about how we talk.

"We avoid talking to each other about money but we both talk to Penny."

Hamilton is likely to sign a multi-year deal, keeping him with Mercedes until the 2025 season.