The reigning Formula One, or F1, world champion Lewis Hamilton previously said that his contract extension with the Silver Arrows could be signed before the third race of the season. However, Hamilton has recently said that it is “unlikely” that his new Mercedes contract will get signed before the 2015 Chinese Grand Prix takes place at the Shanghai International Circuit from April 10 to April 12, 2015.

Hamilton said that the paperworks are the reason why his new Mercedes contract had hit a stumbling block. “Obviously at the last race I said it would be done within a week; this is my first time negotiating myself and you don’t know how many times I’ve had to read about 80 pages, it is so much reading and it is all in lawyer jargon,” Hamilton told Sky Sports. “So it has been a quite a pain in the backside, to be honest.”

Hamilton’s contract with Mercedes is set to expire at the end of the 2015 season. However, both parties have already expressed their intentions to continue working with one another and have reportedly agreed in principle towards a new contract that could see Hamilton representing Mercedes in three more years.

According to BBC Sport, Hamilton will be paid just about the same amount of salary when he first joined the German F1 outfit. The 30-year-old British driver will earn a basic salary of $31 million, but he could earn as much as $40 million including bonuses.

Meanwhile, Hamilton looks ahead of defending his title at the Chinese Grand Prix. Hamilton, a three-time champion at the Chinese Grand Prix, said that the Shanghai International Circuit is one of his favourite locations because of the tremendous support that they get from the fans the moment that they arrive at the airport.

Hamilton is looking to build on the success that he achieved last year in Shanghai. Hamilton took the pole position and won the race, beating his teammate 2012 champion Nico Rosberg, who took the second spot. Fernando Alonso, who was still racing for Ferrari then, occupied the third place in the podium. Hamilton also won the Chinese Grand Prix in 2008 and 2011 with McLaren-Mercedes F1 outfit.

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