Mercedes driver Lewis Hamilton of Britain gestures during the free practice at the Hungarian Formula One Grand Prix in Budapest, Hungary, Friday, July 25, 2014. The Hungarian Grand Prix will be held on Sunday, July 27, 2014. (AP Photo/Darko Vojinovic)

Budapest, Hungary - Lewis Hamilton hopes to agree a new deal with Mercedes this season even though his current contract still has more than a year to run.

“But now is not the time to really focus on that,” Hamilton said at the Hungaroring.

“I am sure something will happen this year but I've made it clear to them that they don't have to worry, I'm not out seeing what else there is for me.

“Mercedes has been part of my family since I started Formula One so I don't see that changing any time soon.”

Hamilton has won five of the 10 races so far this year but is still 14 points behind German team mate Nico Rosberg, who has four wins to his credit, ahead of Sunday's race.

Rosberg signed a new multi-year contract with the British-based team last week, ahead of his home grand prix at Hockenheim.

A new deal, if of the same three-year duration as the last, would be worth tens of millions. Media estimates have put Hamilton’s current salary at about £20 million (R356 million) a year.

Hamilton said: “I've made no secret to both technical director Paddy Lowe and Mercedes motorsport head Toto Wolff - we have a very good, open relationship - and I've said 'you will be the first to know if I was ever to speak to anyone else'.”

“But I've said 'there wouldn't be because I want to be speaking to you'. We spoke about having a chat at some stage but I think they're quite relaxed as well, as far as I'm aware.

We haven't sat down yet, but the team know I'd like to push to continue, and they have made clear they would like to do the same,” said Hamilton.

“I've shown an interest in sitting down and talking.”

Hamilton started his career with Mercedes-powered McLaren in 2007 and has been backed by the German manufacturer since he was 13 years old.

He joined the Mercedes team in 2013 and the heavily tattooed driver said he felt like he had “Mercedes imprinted on my chest”.

The 29-year-old dismissed with a shrug speculation that Mercedes were also interested in signing four times world champion Sebastian Vettel, who has been having a difficult season, from Red Bull.

“I am not concerned about that,” he said. “Ultimately if the team wanted him in the car, that's their decision. I don't have any feelings about it. There will always be a place for every driver and what will be, will be.

“But I feel like I'm very much part of the family here. I'm not knocking on Toto's door or Paddy's to get something done because I have faith in them and I think hopefully they have faith in me.

“I would wish to continue with them and I think they hopefully want to do the same with me.”

Hamilton is a favourite to win in Hungary, having done so for the last two years and four times in total. Another win would break the record he currently shares with Michael Schumacher.