According to an exclusive report on Sky on Thursday, the seven-time champion has joined tennis superstar Serena Williams in committing major investment funds to a consortium bidding to take ownership of Chelsea.
The plans are being spearheaded by former Liverpool Football Club and British Airways chairman Martin Broughton.
Sky suggests that both Hamilton and Williams have held talks with Broughton's group about the plans, and the pair could be willing to invest around £10 million each to the bid.
It was also suggested that rather than be a silent partner if the deal went ahead, Hamilton would pay a formal role in Chelsea's future efforts to promote diversity, equity and inclusion.
Broughton’s bid is not the only one vying to take over from Roman Abramovich as Chelsea’s new owners, with a number of international parties taking a keen interest.
The three final bidders are Broughton’s consortium, a group led by part-owner of the LA Dodgers Todd Boehly, and one from Stephen Pagliuca, who is co-owner of NBA’s Boston Celtics and Serie A side Atalanta.
All those interested have been asked to provide a guarantee of £1 billion of investment in the club’s infrastructure, its academy and women’s team if they are successful in a takeover.
With handling for the sale being undertaken by US bank, the Raine Group, the preferred candidate is expected to be picked later this month.
The sale of Chelsea, which could be worth as much as £2.5 billion, has come about after former owner Abramovich became subject to sanctions in the wake of Russia’s invasion of Ukraine.
With a risk of the club’s assets being seized, Abramovich elected to put it up for sale. He originally bought the club back in 2003 for around £150 million.
Due to the implications of the sanctions, any takeover of Chelsea will need approval from the UK government, which will have to issue the club with a fresh operating licence.
Hamilton was not immediately available for comment on the matter, but will almost certainly be asked about the report ahead of this weekend’s Emilia Romagna Grand Prix.