Eddie Jordan Says Hamilton Going to Mercedes; McLaren Says Not True

Former Formula 1 driver team owner and BBC F1 commentator Eddie Jordan broke the news yesterday that Lewis Hamilton will take Michael Schumacher's place next season at Mercedes GPMercedes-BenzGermany, 1924 > present197 models
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. 

"I believe Hamilton and Mercedes have already agreed personal terms and a deal could be imminent. Negotiations between Lewis Hamilton and McLaren continue. It would appear Michael is leaving and Lewis is arriving at Mercedes," said Jordan. 

McLarenMcLarenUnited Kingdom, 1963 > present92 models
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responded within a few hours and said: "We have been told by Lewis Hamilton's management team that the story is untrue."

Mercedes has refused to comment. 

Hamilton had been linked to FerrariFerrariItaly, 1947 > present233 models
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earlier in the season as was Mark Webber, but both of those moves appear to have fallen through. 

"Bernie Ecclestone made it clear to me live on television on Sunday that Schumacher was leaving, although Schumacher later played it down," said Jordan. 

The problem causing Hamilton to leave McLaren appears to be purely financial. Hamilton had had a £9.42 million per year contract with McLaren. He obviously wants that much or more from his new contract, but next year McLaren will have to begin paying for their cars' Mercedes engines. That will be a major new cost for the team. 

Expect this story to develop more over the next several weeks. 

Source: BBC and Autosport