McLaren hint at Hamilton pay cut

Lewis Hamilton may have to take a pay cut if he is to remain with McLaren, according to team boss Ron Dennis.

The 2008 world champion's current deal, which comes to an end at the end of the year, is rumoured to be worth around £14million a year. There had been rumours Hamilton had agreed a new five-year deal with McLaren worth £20million a year but the speculation was wide of the mark and Dennis has now indicated the 27-year-old may have to accept a drop in wages to remain with McLaren. "It's a complex situation," Dennis told Sky Sports. "He's on the end of a contract which was signed at a time when the economy was somewhat different and now there has to be a balance between that. "You're always going to look at what's available and where can he go. He's going to look at that, we're going to look at who's available. At the end of the day, hopefully, with the fact that he's been a part of this team from the beginning of his career will play a significant role in the decision both sides make. But it's a little early to be talking about it." Dennis' comments are likely to increase the speculation surrounding Hamilton's future, with the British star having been linked with both Ferrari and Red Bull in the past.