FERRARI are set to offer Sir Lewis Hamilton a huge deal to persuade him to leave Mercedes, according to reports.
The 38-year-old is out of contract at Mercedes at the end of the year and has held talks with Ferrari about jumping ship.
President John Elkann has been in close contact with Hamilton to offer him the chance to win a record-breaking eighth title and eclipse Ferrari legend Michael Schumacher.
And they are willing to offer the Brit a staggering contract worth £40million, according to the Daily Mail.
Ferrari want Hamilton to arrive in place of Carlos Sainz but they would also be willing to swap him for number one driver Charles Leclerc, who would join Mercedes.
Ahead of the 2023 campaign there was talk Hamilton could retire at the end of the season – but he stated his desire to continue racing earlier this month.
And he could remain at Mercedes who would also offer him around £40m to sign on for next season.
It is believed Hamilton will decide his future based on which team gives him the greatest chance of winning an eighth title.
New Mercedes upgrades will be introduced at the Monaco Grand Prix this weekend including a new floor, front suspension and sidepod.
Should the modifications prove a success, Hamilton may have faith he can rival Red Bull duo Max Verstappen and Sergio Perez next season.
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But his family are still keen for Hamilton to one day race in the famous red of Ferrari.
Hamilton is approaching the end of his career but legendary commentator Murray Walker still believes he has a few years left in him.
He labelled Hamilton the best driver of all time, saying: “He’s got at least three years in him if he doesn’t hurt himself or leave Mercedes for some reason or they decide to stop, in which case he’s got at least another three championships ahead of him, so statistically he will become the greatest.
“But he’s also in my opinion — and this is very contentious indeed — better than either Schumacher or Senna because both of them, Schumacher and Senna, adopted at various times in their career highly debatable driving tactics.”