Former Formula 1 team boss Eddie Jordan believes Lewis Hamilton and Mercedes have yet to reach an agreement on a new contract because they can't agree on the 36-year-old's worth to the team.
Although the reigning world champion and team principal Toto Wolff have stated in the past they expected a new deal to be a formality, that hasn't been the case as Hamilton remains unsigned with a little more than two months remaining until the start of the 2021 Formula 1 season.
Jordan believes talks have dragged on due to money, with Hamilton looking to be compensated with more given the sponsors and prize money he brings in.
"There are a number of things that could be causing a hold up and there have been some changes with the team," Jordan told The Sun. "There are some things that are relevant at the moment in that Toto has been in isolation due to COVID and Lewis is in America, so these negotiations are being done on Zoom.
"And number two, it is kind of complicated because Ineos, I believe, have bought into Mercedes because of the wealth of value that Lewis brings to that.
"I am not saying they did that exclusively because of Lewis because he is not going to be there forever. But the reality is it was a very important factor and you also have to factor in that people like Tommy Hilfiger and sponsors like that, are only there because of Lewis.
"I have a little snippet of information and Lewis is saying 'look guys, this is my salary, is this what I am being paid as a driver and for various other things that go along with the interviews and other aspects? But am I being compensated for bringing in sponsors? Am I being compensated for the arrival of Ineos? Am I being compensated for the increased television income you are getting as the constructors' champion in the form of TV money?"
Jordan offered Hamilton's manager a suggestion as to how he would approach negotiations knowing how in-demand the Mercedes star is.
"If I was his manager, I would be saying to Mercedes, 'look, we add a lot of value to Mercedes' overall income over the year. It is positively wrong to ignore that," Jordan added.
"I believe Lewis is looking for 10 percent of the team's television money and it is hard to understand why he would not be worth that.
"We are in the media and the amount of opportunities we have to interview Lewis are very slim. We stand in line like everybody else. But he is the first one we all want. We are at the press conferences because we need Lewis as he is a value to me and and you and everybody else."