• World champion stalls on contract until hearing owner’s blueprint • ‘The cool thing is they’re looking into making it more of a spectacle’

Lewis Hamilton says he is waiting for Formula One’s owner to reveal its plans before making any decision on continuing in the sport.

Hamilton is in the last season of a three-year deal with Mercedes and has been in the process of negotiating a new contract. But, speaking before the Bahrain Grand Prix this weekend, the four-times world champion admitted he will delay finalising any new deal until hearing the blueprint for F1, which Liberty Media will present to the teams on Friday.

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The 33-year-old is in his 12th season in F1 and has won three of his four titles with Mercedes over the past five years. With the team looking strong again this season and current regulations set to run until 2020, it was expected he would re-sign for two years with an option for a third. But he has now made it clear he wants to first weigh up proposals from Liberty, which are likely to include measures to cut costs and make the sport more competitive.

“The next contract is probably the most important one in my career,” Hamilton said. “The decision, how long you want to commit to being in F1, is becoming more and more important to me, being that I’m in the latter end of my career. It is one not to be rushed into and I will not be rushed into it.

“Ultimately you want to have all the information so you can make the most knowledgeable decision.”

Liberty has employed Ross Brawn – the former technical director and team principal for Benetton, Ferrari, BrawnGP and Mercedes – to oversee new rules that will come into play in 2021. Brawn wants to make racing more competitive, increase the drivers’ role, and combat spiralling costs.

How long Hamilton intends to continue his career could be influenced by the plans. “There are discussions of what’s happening moving forward,” he said.

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“It’s always good to wait for those to see the future of F1. To see whether or not that could or could not have an impact on decisions you make. It’s come at a pretty good time because I have yet to put pen to paper so I think it is good for the team and good for us. It is important we do take our time, you should never rush anything.”

Both Mercedes and Ferrari have expressed dissatisfaction at Liberty’s early proposals while the concorde agreement that binds them to the sport ends in 2020 and has yet to be renegotiated. Ferrari have threatened to leave F1 if they are unhappy with the new regulations.

Hamilton, though, is optimistic that Liberty has set a positive process in motion. “The cool thing is they are looking into trying to make it more of a spectacle. I have talked to people high up who have absolutely no idea what it means to be a racing driver, or a team or designer, and I’ve met others that do understand, like Ross for example. Hopefully we will move in the right direction.”