Unsurprised that it’s only a single year, and I imagine it’s Hamilton keeping his options open. With the salary cap coming in and Toto staying a while, I can’t imagine it was Mercedes who would have been pushing for a short contract.
2022 looks wide open, then. I would guess Hamilton’s presence beyond 21 is more about his enthusiasm to drive the new cars than anything—if he’s on 8 titles and over 100 wins by that point then motivation looks at best very different. I’d reckon 70/30 this will be his last year. Either way, I expect to see Russell in a Mercedes in 22, and I’d say the odds of Bottas getting another extension are now quite long.
So, now the musical chairs have officially ended… Verstappen looks like the only potential title challenger, and even then an outside bet. On-merit race wins on the cards for Perez, Ricciardo, maybe Alonso, and Vettel if he can find his groove again, but I struggle to see any of those realistically sniffing the title beyond the first half-dozen races or so.
Should be fun, though…