Hamilton signs new three-year contract with Mercedes

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Motor Racing - Formula One World Championship - 2015 Monaco Grand Prix - Paddock Day - Circuit de Monaco

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.


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."