Hamilton, Mercedes in deadlock over new contract

It has been understood that Lewis Hamilton and Mercedes are in deadlock over his new contract.

Hamilton is demanding 200 million euros at the current exchange rate -- over three years, a figure that would put him on a par with Ferrari's Sebastian Vettel as the highest-paid driver on the grid, reports dailymail.co.uk.

But the Mercedes board at Stuttgart are believed to be unwilling to rip up their entire pay structure to accommodate the world champion.

It is also understood that Hamilton has requested to keep all his trophies and his winning car -- a further demand that his German bosses may not be ready to accede to.

Officially, both Mercedes and Hamilton are saying everything is fine and that the deal will be clinched.

Hamilton is negotiating his new terms with the help of his lawyer, Sue Thackeray, perhaps the most trusted lieutenant in the Hamilton circle, having worked with both Lewis and his father Anthony for many years.