PROTRACTED negotiations between Lewis Hamilton and Mercedes were finally brought to a close yesterday when the reigning world champion confirmed a new three-year contract.
The deal, which ties the 30-year-old to Mercedes until 2018, is understood to be worth up to £100m, a financial package that would see Hamilton become Britain’s highest-paid sportsman.
It is believed his basic salary, to be paid in US dollars, will equate to £20.9m, while bonuses depending on race wins could see his annual earnings escalate beyond £27m.
“Mercedes is my home and I couldn’t be happier to be staying here for another three years,” said Hamilton. “This is a company filled with passionate racers.”