Hamilton set to be Sir Lewis

The British racing driver is to be given the prestigious gong after his tax affairs were deemed "all in order", according to The Sun.

Seven-time Formula One champion Lewis Hamilton could receive a knighthood from Queen Elizabeth II, The Times reported over the weekend.

Calls for Hamilton's knighthood became louder after the 35-year-old equalled Michael Schumacher's record of seven F1 championship titles earlier this month at the Turkish Grand Prix.

Britain has had ten world champions, but only three-time world champion Jackie Stewart has been recognised with a knighthood.

United Kingdom prime minister Boris Johnson personally recommended Hamilton for a knighthood, according to the report, citing the driver's racing record and his work to combat racism.

However, Hamilton's tax status has delayed the impending elevation.

"When I think about that honour I think about people like my grandad who served in the war".

Hamilton was awarded MBE in 2008 when he won the first of his titles, aged 23, at McLaren.

Lewis, worth an estimated £250million and a resident of tax haven Monaco, will be knighted in the New Year after his finances got the green light from the British government's honours committee, the report said.

The only Black driver in F1, Hamilton has tried to bring attention to protests for racial justice this year, taking a knee before each race, and wearing shirts with the slogans "Black Lives Matter" and "Arrest The Cops Who Killed Breonna Taylor" at races. I don't look at myself as an unsung hero.

He explained: "Lewis has always been breaking down barriers, the moment he arrived in F1 or even in karting he was breaking barriers and challenging the status quo".

"The knighthood will be seen as recognition of not just his driving but also as a black driver that has bust another door open for anyone who is not white".

"He has destroyed the preconception that it can't be done, that there is an area where you cannot achieve something because of the color of your skin".