Sports Mole rounds up all of the latest news regarding Formula 1 on Thursday, February 4.

Thursday morning's Formula 1 news roundup

Hamilton contract saga 'embarrassing' - Schumacher

The saga surrounding Lewis Hamilton's 2021 contract is becoming "embarrassing".

That is the view of former F1 driver Ralf Schumacher, referring to the fact that the only team with an official vacancy ahead of the new season next month is Mercedes.

He told Sky Deutschland that Hamilton is taking a "risk" - perhaps not only with his image, but also because Mercedes has the highly competitive youngster George Russell waiting in the wings at Williams.

When asked about Hamilton's farcically-delayed contract negotiations, Schumacher said: "One thing is clear - Formula 1 is bigger than any one individual.

"It's February now and the most important man at the moment in Formula 1 - the seven-time world champion - is still not signed.

"I find that a shame and, I have to say honestly, a bit embarrassing," he added. "Lewis also must not forget the risk of what he is doing."

45-year-old Schumacher said he isn't sure why Hamilton and Mercedes are still yet to agree, adding: "It's always said that it's just about the money, but I hope not."

Own engine program could give Red Bull boost - Lammers

Running its own engine program could actually be an advantage for Red Bull, according to Dutch GP boss Jan Lammers.

Currently, the energy drink owned team is waiting to hear if the other teams and the FIA will agree to a 2022 engine development 'freeze'.

If the freeze goes ahead, Red Bull and Honda have agreed that the Milton Keynes based team will take over departing Honda's current works engine project.

"If Red Bull takes over the factory and the running costs, along with part of the workforce, then that is interesting for both parties," Lammers, a former F1 driver, told the Dutch publication racingnews365.

"Honda will incur hardly any costs and still keep in touch with developments in Formula 1."

Lammers also thinks the deal would be good for Red Bull.

"If you have the same skills and budgets, it is sometimes an advantage to be a private organisation," he said. "A manufacturer is often much less flexible - a much more bulky entity.

"As a manufacturer you also have to deal with a certain morality, with themes such as sustainability, safety and the image of the company. The brand.

"For example, they can often take far fewer risks with reliability. I don't think it's for no reason that Renault, who also struggled with reliability, is now continuing as Alpine," Lammers added.

More news from Formula 1:

Romain Grosjean to return to racing in IndyCar series
The 34-year-old scrambled to escape his burning cockpit for almost half-a-minute in November. Read more.

McLaren drivers are 'serious' not 'goofy' - boss
Zak Brown has backed new team driver Daniel Ricciardo's warning that 2021 will not be "a comedy show" at McLaren. Read more.

Kubica may focus only on F1 role in 2021
Robert Kubica has admitted he may spend the entire 2021 season focusing exclusively on his reserve driver role with Alfa Romeo. Read more.

Grosjean may feel 'nervous' before racing return
Romain Grosjean admits he might feel "nervous" once he gets up and racing for the first time since his fiery Bahrain crash. Read more.

Bahrain may host two races early in 2021
Formula 1's 2021 calendar could be set for yet another pre-season shakeup. Read more.