Lewis Hamilton contract: Mercedes have Ferrari and Michael Schumacher lesson to learn

But while Mercedes have every right to play hardball, they should learn from Ferrari when it comes to negotiating.

They had Schumacher in his prime, with the German simply unparalleled between the years 2000 to 2004.

But, ever since his departure, Ferrari have struggled to dominate the sport.

Since Schumacher’s final triumph in 2004, they’ve won just one Championship as a team – back in 2007, when Kimi Raikkonen was in the seat.

Since then, they’ve been forced to watch from afar as their rivals have dominated.

Red Bull were sensational between 2010 and 2013, winning four Championships with Sebastian Vettel behind the wheel.