McLaren is offering Lewis Hamilton a lucrative new contract for 2013 and beyond, British newspapers are reporting from Monaco.

The stories – in all the major dailies including the Guardian, the Telegraph, the Daily Mail, Express, the Star, the Sun, the Mirror and the Times – consistently contradicted an earlier rumour that Hamilton might need to take a pay-cut if he wants to stay with the British team beyond this year. The Guardian said McLaren has in fact put a five-year, $150 million contract on the table, which combined with bonuses might mean Hamilton overtakes Fernando Alonso as F1′s highest paid driver. Read the rest of this entry »