Lewis Hamilton set to snub Ferrari and sign imminent new deal with Mercedes

Rumours had been circulating that Ferrari were set to table a £40million-a-year deal to lure Hamilton across the grid.

But the 38-year-old insisted no talks had been held and, amid doubts over his Mercedes future, said he planned to stay and put pen to paper on a new deal.

Hamilton said he had a team in place carrying out negotiations with team principal Toto Wolff.

The seven-time world champion, speaking in the build-up to Sunday’s Monaco Grand Prix, said: “This is the first time I have not been negotiating myself and I have a great team in the background doing all the work and I can focus on the job. I say what I want and that’s what we’re working towards.

“Naturally when you are in contract negotiations, there is always going to be speculation and, unless you hear it from me, that’s what it is.

“Maybe with the race [in Imola] being cancelled, they just got bored. My team is working closely behind the scenes with Toto and we are almost at the point of having a contract ready. It is much more relaxing because before I was doing it myself.”