Delay over Lewis Hamilton's new deal a sign of the cold winds of economic change gripping F1

Seven-time world champion talks with Mercedes ongoing as company faces the most challenging time in their history as the pandemic rages

Mercedes driver Lewis Hamilton reacts after winning the 2020 Turkish Grand Prix and equalling Michael Schumacher's record of seven world titles. AP

Lewis Hamilton gets emotional after winning the Turkish GP for Mercedes. AFP

An emotional Lewis Hamilton after winning the Turkish GP for Mercedes, and with it the world title. Reuters

Mercedes' Lewis Hamilton after winning the Turkish GP. Reuters

Mercedes' Lewis Hamilton joined Michael Schumacher as the sports' only seven times champions. Reuters

Mercedes driver Lewis Hamilton celebrates after winning the Turkish GP at the Istanbul Park circuit racetrack on Sunday. AP

Mercedes' Lewis Hamilton is the most successful F1 driver of all time. Reuters

Mercedes driver Lewis Hamilton won the Turkish GP on Sunday to clinch the world title. Getty

Lewis Hamilton of Mercedes during a wet Turkish GP in Istanbul on Sunday. EPA

Racing Point team work in the pitlane in Istanbul. Getty

Mercedes Valtteri Bottas was the only other driver who could challenge Lewis Hamitlon for the world title. Getty

The Turkish GP was impacted by weather over the weekend. Reuters

Conditions were challenging for drivers at the Turkish GP. Getty

Sebastian Vettel of Ferrari at Istanbul track on Sunday. Getty

Lewis Hamilton may have won another world title and survived coronavirus but his Formula One battles are far from finished.

The seven-time world champion has only just sounded the starting gun on talks over his future at Mercedes that are usually wrapped up in mid-summer.

And you have to ask yourself why both sides have left the deal to hang in the air for so long? It can hardly be because they agree on everything.

On Hamilton’s side it has been a season of prolific domination, and he has done his bit in the cockpit by matching Michael Schumacher’s record championship tally.

The benefits of having the Brit in the car are empirical. At least as far as a comparison with Valtteri Bottas is concerned. In four years together Hamilton has won four titles; Bottas just nine races.

His other six titles aside, Hamilton started from pole 10 times and won 11 races. Bottas started on pole five times and won just twice. That stat alone demonstrates the Brit can be relied upon to bring home the goods. Bottas not so much.

It’s a well-worn phrase that Mercedes are so dominant anyone could win in that car. Clearly not. Not consistently anyway.

But George Russell’s baptism of fire in Bahrain showed there are quality options out there for them. As a Bottas replacement certainly. But maybe even as a Hamilton substitute too.

While they ponder Hamilton’s salary demands topping $40 million Mercedes are taking a record hit to their profitability and face, perhaps, the most challenging time in their history as the pandemic rages.

Mercedes driver George Russell ahead of the Sakhir Grand Prix at the Bahrain International Circuit. Getty

British driver George Russell during the Sakhir Grand Prix. EPA

George Russell befoe the start of the Sakhir Grand Prix. Getty

Mercedes' George Russell leads the race in Bahrain. Getty

George Russell alongside his Mercedes teammate going into the first corner at the start of the Sakhir Grand Prix. Getty

George Russell would finish in ninth place at the Sakhir GP. Getty

Mercedes driver George Russell after securing second place on the grid for the Sakhir Grand Prix. EPA

George Russell, right, walks to the grid before the race in Bahrain. Getty

Mercedes driver George Russell during the race. Getty

Mercedes driver George Russell during the race. EPA

George Russell in a press conference after qualifying for the Sakhir GP. Getty

They made €1.64 billion in the last quarter of 2018 but an €11 million loss for the same period in 2019.

New Daimler Benz boss Ola Kallenius, who doesn’t have the best of relationships with Mercedes team principal Toto Wolff, is looking to save €1.4 billion over the next two years. Or roughly a little over what they are spending each year on F1. The company is also axing thousands of jobs.

The public appetite to go electric has caught everyone unaware and Mercedes are investing $42bn to catch up and plan to unveil around 130 different electrified models by 2030.

Money has also been put aside for pollution law suits and government investigations in the United States and Germany on their diesel emission practices. All in a shrinking car market.

Closer to home, F1 team bosses have agreed a cap on driver salaries. The (debated) figure is $25m per team (not per driver). AlphaTauri boss Franz Tost wants it set at $10m: “They earn way too much money. They should be happy they have this job and that they also earn a little money.” The cold wind of economic reality really is whistling through the sport just now.

Then there is the approaching departure of Mercedes boss Wolff, which Hamilton will view with a great deal of trepidation.

His relationship with the Austrian is as uncomplicated as the one that preceded it, with his mentor Ron Dennis at McLaren, was complex.

Hamilton’s call for the driver’s organisation the GPDA – dubbed the richest union in the world – to stand united against the salary cap will not see them on a picket line any time soon - especially given his past ‘commitment’ to the organisation.

A $25m ceiling would only affect a select few: Sebastian Vettel, Max Verstappen, Fernando Alonso, Daniel Ricciardo and Hamilton himself, in any case.

All year Mercedes and Hamilton have denied talks have been taking place but that’s really not the case. Subtle steps have been made since the summer.

Some believe the Mercedes board have not only refused to countenance a big pay increase for their 'History Man' but, in this economic climate, want him to take a pay cut.

Hamilton, in turn is looking for more control over his image rights, room for more personal sponsorships and less media obligations.

But it’s difficult to divine the reality. Some sources say he wants a longer term deal to encompass retirement while others insist he’ll only do one year at a time now to be free to feel the shifting sands of the 2022 regulation changes.

And then there’s the fact that the second seat at Red Bull is still open. Coincidence? It doesn’t seem likely.

Red Bull's Max Verstappen after winning the 2020 season-ending Abu Dhabi Grand Prix at Yas Marina Circuit. Getty

Fireworks go off as Max Verstappen crosses the line to win the race. Getty

Red Bull's Max Verstappen. AFP

Red Bull's Max Verstappen leads at the start of the Abu Dhabi GP. EPA

Race winner Max Verstappen in a press conference after the race. Getty

Third placed Lewis Hamilton of Mercedes. Getty

Second placed Valtteri Bottas of Mercedes. Getty

Max Verstappen of Red Bull. Getty Images

Red Bull's Max Verstappen leads the pack. AFP

Red Bull driver Max Verstappen of the Netherlands leeads at the start of the Formula One Abu Dhabi Grand Prix in Abu Dhabi, United Arab Emirates. AP

Reigning champion Lewis Hamilton of Mercedes. Getty

Race winner Max Verstappen with second placed Valtteri Bottas and Lewis Hamilton who finished third. Getty

Max Verstappen celebrates with his Red Bull team after winning in Abu Dhabi. Getty

Mercedes driver Lewis Hamilton burns tires after the race. AP

Red Bull's Max Verstappen celebrates victory. Getty

Lewis Hamilton of Mercedes during the race. Getty

Max Verstappen celebrates with his Red Bull team after winning in Abu Dhabi. Getty

Mercedes' Finnish driver Valtteri Bottas and teammate Lewis Hamilton do doughnuts after the race. AFP

Mercedes' Finnish driver Valtteri Bottas and teammate Lewis Hamilton do doughnuts after the race. AFP

Mercedes' Finnish driver Valtteri Bottas and teammate Lewis Hamilton do doughnuts after the race. AFP

Red Bull's Max Verstappen celebrates winning the race. Reuters

Left to right: Valtteri Bottas, Max Verstappen and Lewis Hamilton. Getty

Red Bull's Alexander Albon who finished fourth. Reuters

An Etihad jet flies over the circuit ahead of the Grand Prix. AFP

Action from the start of the race. Reuters

Ferrari's Charles Leclerc, who finished 13th. AFP

Mercedes' Lewis Hamilton during a warm up lap before the race. Reuters

Lance Stroll of Canada on his way to the grid prior to the race. Getty Images

Ferrari's Charles Leclerc during the race. AFP

Renault's Daniel Ricciardo, who finished 7th in Abu Dhabi. AFP

Mercedes' Valtteri Bottas. Reuters

Red Bull's Max Verstappen leads at the start of the race Pool. Reuters

Alexander Albon of Thailand. Getty

Racing Point's Lance Stroll. AFP

Red Bull's Max Verstappen leads at the start of the race. Reuters

Red Bull driver Max Verstappen. AP

Lewis Hamilton of Mercedes. Getty

Mercedes driver Valtteri Bottas. PA

Ferrari's Charles Leclerc makes a pitstop. Getty

Red Bull's Max Verstappen. AFP

Safety car leads the field during the race. Getty

Mercedes driver Lewis Hamilton. AP

Mercedes' driver Lewis Hamilton. AFP

Red Bull's Alexander Albon. AFP

Red Bull's Alexander Albon of Thailand during the warm-up lap. AP

Ferrari's Sebastian Vettel. AFP

ed Bull's Max Verstappen in action at the start of the race. Reuters

Drivers on the starting grid ahead of the race. AFP

Fernando Alonso and Renault Sport F1 team members with his 2005 F1 title winning Renault R25. Getty

Fernando Alonso and Renault Sport F1 team members with his 2005 F1 title winning Renault R25. Getty

Red Bull are in it to shift cans and Hamilton versus Verstappen would be the biggest ticket in town. Every race. All year.

And he has approached them before. Betting on ace designer Adrian Newey before a dramatic rule change is hardly the daftest idea.

But with a record eighth title to be won would Hamilton really walk away from the best car over a contract stand-off?

Mercedes struck at Hamilton’s heart with their very public support for his Black Lives Matter stand, so surely a deal is only days away.

That doesn’t alter the fact, though, that behind the smiling faces and pats on the back after every win, Hamilton and Mercedes have let the clock tick way past the 11th hour - way past - without signing on the dotted line. And that cannot be good long term. Not with the wind of change whistling through F1.