George Russell is set to receive a multi-year contract from Mercedes in and around the summer break. According to reports, the Silver Arrows have decided to retain the British driver alongside Kimi Antonelli to spearhead their attack at least till the end of the 2027 season.As per Sky Sports, Mercedes are eyeing to provide Russell with a contract extension, which will essentially close the door on Max Verstappen. Amid the reports and rumors of Toto Wolff's interest in the Red Bull driver, the news of Russell's renewal has raised multiple eyebrows.Russell's contract with the German team ends by the end of this season. Mercedes not providing him with an extension during the British GP brewed rumors that the Brackley-based team was looking to bring in Verstappen, who looked unsettled at Red Bull.However, Sky Sports' latest update on Russell tells a whole new story. Sharing the renowned British broadcasters' update, Mercedes AMG Passion Club on X, wrote,"George Russell is about to sign a multi-year contract with Mercedes, which would tie Russell to the team until at least the end of the 2027 season. The contract will be announced soon."Here's the post on George Russell's reported contract extension with Mercedes:George Russell joined Mercedes in 2022 and replaced Valtteri Bottas. He raced alongside Lewis Hamilton for three seasons. After Hamilton left for Ferrari in 2025, Russell became the de facto leader of the Silver Arrows and a guide for rookie Kimi Antonelli.George Russell unhappy with Mercedes' drop in performanceGeorge Russell of Mercedes and Yuki Tsunoda of Red Bull Racing ahead of the Formula 1 Belgian Grand Prix at Spa-Francorchamps in Spa, Belgium on July 27, 2025 - Source: GettyGeorge Russell is far from impressed with Mercedes' drop in terms of performance in Belgium. Following the conclusion of the Belgian GP, the British driver voiced his concern and stated that a big meeting was planned to sort the issues out."Yeah, it was pretty underwhelming, to be honest," Russell explained to Sky Sports F1 after the race at Spa-Francorchamps. "Because we tend to favour the cooler conditions. So we couldn't have really asked for better weather for us. But we've just had no pace recently. We need to sit down, all of us.""We're going to have a big meeting this week with all the designers and engineers. To sort of understand the decisions we've made in recent weeks or months. And why we've gone backwards. So hoping for some improvements in Hungary," he added.Russell qualified in P13 in the Sprint Shootout on Friday and finished the Sprint in P12. In the main race qualifying, he managed P6, and in the race on Sunday, the Brit improved one place to come home in P5. Russell's teammate, Kimi Antonelli, on the other hand, failed to score any points.