Lewis Hamilton’s long-running contract saga could be concluded before next week’s British Grand Prix.

Hamilton, 33, is in the final year of his Mercedes deal, but after months of negotiations the Briton’s extension – which will rubber-stamp his future with Mercedes for at least another two seasons – is on the brink of being announced.

In what could be his last contract in Formula One, Hamilton is poised to earn £40 million-a-year to cement his status as this country’s biggest sporting earner.

It is understood Mercedes do not have a formal timeline in place to announce Hamilton’s new deal. But team boss Toto Wolff hinted after the French Grand Prix – a race which was attended by Mercedes chairman Dr Dieter Zetsche – that a conclusion may finally be on the horizon.

“We don’t want to drag it out much longer,” Wolff said. “I expect it to be done very, very soon.” The Austrian cryptically added: “Maybe it is about choosing the right moment.” Mercedes wanted Hamilton’s future to be resolved before March’s opening race in Australia, but they will head towards the midway stage of the season with two vacant seats for 2019.