Reigning world champion Hamilton is negotiating the deal himself and had initially expressed hope that the agreement would be sealed in the days following his second - placed finish at the Malaysian Grand Prix .
World champion Hamilton moved to the team in 2012 after defecting from rival McLaren .
Reigning world champion Hamilton , who moved to the team in 2012 after defecting from rival McLaren , is negotiating the deal himself and had initially expressed hope that the agreement would be sealed in the days following his second - placed finish at the Malaysian Grand Prix .