"It is a low-ball offer": Ferrari's £40 mn bid for Lewis Hamilton didn't impress F1 pundit

F1 pundit and presenter Ted Kravitz does not feel Ferrari's rumored offer for Lewis Hamilton is high enough.

According to Kravitz, the seven-time world champion can easily be the most valuable asset to any team not just because he is one of the best drivers on the grid but also because he is one of the most famous racing drivers in the world.

Speaking on the Sky Sports F1 podcast, Kravitz explained how the rumored £40 million bid to Lewis Hamilton was not enough, simply because it was around £5 million less than what he is currently receiving from Mercedes and £10 million less than what the Silver Arrows could be willing to offer him in his new contract.

"Firstly, I think 40 million offer to Lewis Hamilton is a bit of a low ball offer for Lewis Hamilton. I think it's probably about 5 million less than he's on at the moment, and maybe even 10 million less than something that Mercedes are actually going to offer him as part of it, you know, not only the remainder of his driving career but also a longer term association with the Mercedes brand that is valuable to Lewis."

The British reporter stated that Ferrari currently has several people on their radar in an effort to improve their team. Kravitz speculated that new team principal Frederic Vasseur is planning to drastically improve the team by bringing in new personnel in every department. He said:

"Number two, I think Ferrari are offering everybody a job for anything at the moment. I mean, it wouldn't surprise me if their replacement for Laurent Mekies, you know, they announced David Croft as their replacement as a sporting director. That would be a good choice!"

He concluded:

"Ferrari are offering everybody a job in Formula One. Everyone is on Ferrari's shopping list because Frederick Vassar says 'I am going to put together a crack team of amazing people around Carlos Sainz and Charles Leclerc to make them realize 'oh wow you know this is incredible'."

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Mercedes team boss brushes off Ferrari rumored bid for Lewis Hamilton

Mercedes team principal Toto Wolff debunked the rumored £40 million bid from Ferrari for the seven-time world champion. Speaking to OE24, Wolff stated that such rumors always come up whenever the Briton needs to sign a new contract with Merecedes.

Wolff does not feel any time crunch to complete the contract formalities but is more concerned about the awkwardness during financial negotiations with Hamilton. He said:

"These rumors come up every two years when we have to sign a new contract. But none of this is true. We discuss normally, without any time pressure. I said that too. It’s just uncomfortable that two friends, two blood brothers who have been through thick and thin for ten years, suddenly have to discuss money."

Lewis Hamilton's current contract ends after the 2023 F1 season.