Lewis Hamilton is reportedly willing to take a hit on his £34m salary to re-sign with Mercedes, but wants his bonus doubled.

The Briton’s contract talks generated a great deal of attention last season, with negotations actually spilling over into 2021 as a new one-year contract was agreed.

Mercedes are keen to avoid a repeat of such drawn-out talks, and now new details have emerged on the progress that Hamilton and the German outfit have made.

Hamilton’s new contract for 2021 gives him a base salary of £34million, a pay cheque which he is willing to reduce according to Motorsport.com’s international editions.