Lewis Hamilton set to sign new £50million-a-year deal with Mercedes before Canadian Grand Prix

Hamilton has made it clear in recent weeks, he plans to stay put at the team where he has won six of his seven drivers’ titles despite Ferrari preparing a deal to lure him across the grid.

Hamilton and his team have held ongoing talks with Mercedes boss Toto Wolff, thrashing out the finer points of his new multi-year deal.

Wolff told CNBC: “It is going to happen soon, and we are talking more days than weeks. We are trying hard [to get the deal signed before Montreal]. I will see him today and maybe we will talk about it.”

The deal would see Hamilton remain on the grid well into his forties.

Of the impending new contract, Wolff said: “Lewis is the most important personality in the sport. He is so multi-faceted, not only with the racing but also off track so we need to keep him in the sport for as long as possible.

“From a team’s perspective, Lewis and Mercedes have gone back a long time. He has never raced for any other brand than Mercedes.”