A £40 million deal is reportedly being negotiated, and there are conversations going between John Elkann, Ferrari’s president, and Lewis Hamilton.

According to Mail Online, Ferrari is prepared to spend big money to entice Hamilton to the red side. Right now, they provide a better vehicle than Mercedes.

The British driver, who was pipped to the title by Max Verstappen two years ago, came within mere seconds of breaking the record for the most titles ever.

Since then, Mercedes has fallen off the leading runners on the grid and the driver has failed to win a race.

With his Mercedes contract ending this year, it’s reported that conversations are advancing rapidly between Hamilton’s representatives and the higher ups at Ferrari.

Although at age 38 he is determined to continue racing, with his chase for an eighth world title in view; a deal which seems quite an arduous task now with the dominance of Red Bull Racing’s Max Verstappen.

For the time being, Hamilton must focus on delivering for Mercedes and working to advance the team, and help them return to the top.

Following the abandonment of the planned race in Italy over the past few days, the Monaco Grand Prix will take place this next weekend.