Lewis Hamilton 'could join Ferrari this year' and be given a life-line in his bid to win an eighth world title

Lewis Hamilton could be offered the chance to finally get his hands on his eighth world championship... with Ferrari.

The British driver came within literal seconds of breaking the record for the most championships ever when he was pipped to the title by Max Verstappen two years ago, and has failed to win a race since with Mercedes falling off the front runners on the grid.

According to Mail Online, Ferrari are willing to break the bank to lure Hamilton to the red side, with a £40million deal being prepared and Hamilton in regular talks with company president John Elkann.

Hamilton's contract at Mercedes is up at the end of the current year and though he seems determined to carry on racing, at 38, time is against him if he wants to win his eighth world title.

Ferrari pose a much better car than Mercedes right now, and they may be able to give him the tools to compete with Verstappen, who is the dominant driver in Formula 1 and favourite to win his third title in a row this year.

It's reported that conversations are advancing rapidly at the top level at Ferrari, with it possible the Brit could either partner fan favourite Charles Leclerc and replace Carlos Sainz or step into Leclerc's shoes with the Monaco native heading in the other direction.

It's seemed impossible over the last few years that Hamilton could end his career anywhere but Mercedes, but the pull of potentially winning another world title could be too much overall.

It's unclear if he'd be willing to take the leap and bid to overtake Ferrari legend Michael Schumacher as the outright leader in terms of championships won, but, on paper, there are several pulling factors that may twist his arm, including the fact that Hamilton's hero, Ayrton Senna, was supposed to drive for Ferrari before his crash and death the previous year.

Lewis Hamilton is not happy with FIA. (PA Images)

For now, Hamilton has to concentrate on his Mercedes and trying to help progress the team and assist in getting them back towards the front of the grid.

If the seven-time constructors champions could somehow become successful again, it would help their bid to keep Hamilton on their books, but they have to act fast if that's to happen.

The Monaco Grand Prix is up next this weekend after the cancellation of the scheduled race in Italy over the last few days.