Hamilton signs new three-year contract with Mercedes
Reigning F1 world champion has cemented his position as Britain's richest sportsman, after signing a lucrative new deal with his current team Mercedes.
The deal, which is worth £100 million, will see Hamilton race for the dominant German team for the next three years.
Making the announcement yesterday in Monaco, The Telegraph reports Hamilton as commenting: "I am so happy I get another three years in Formula One after this in a great team, with a great contract and a team that really believe in me and hopefully with an amazing car.
"But I'm just chilled. I'm not going to go out screaming and yelling like I just got a jump shot from the halfway line."
It is expected that the 30-year-old will be paid a basic salary of $31 million (£20.9 million), which will be boosted by bonuses and sponsorship earnings.
Just signed my new deal, 3 more years... (Go to my instagram for my full message) pic.twitter.com/jqHegGzhma— Lewis Hamilton (@LewisHamilton) May 20, 2015
The announcement puts an end to rumours that Hamilton had been eyeing-up a move to rival Ferrari.
Mercedes motorsport boss Toto Wolff told the BBC: "Lewis enjoyed an historic world championship season with Mercedes-Benz last year and it was a priority for this season to renew his contract for the next term.
"Lewis' sporting track record speaks for itself and he is a great personality for the company.
"Personally, I am looking forward to continuing to race with the strongest driver pairing in Formula One and to more historic achievements together."