Lewis Hamilton has won three F1 drivers' championships in the last four years.GETTY IMAGES
Lewis Hamilton signed a two-year contract extension with Mercedes that will make him the highest-paid driver in Formula 1, according to Rebecca Clancy of the LONDON TIMES. While no financial details were released by the team, the deal is understood to be worth up to £40M ($52.1M) a year, including "performance-related bonuses." Sebastian Vettel, who leads Hamilton by eight points in the championship ahead of this weekend's race at Hockenheim, is thought to earn £30M ($39M) per year at Ferrari. The new deal, which was signed this week, will keep Hamilton with Mercedes through the '20 season. Hamilton said, "This contract extension has basically been a formality since [Team Principal] Toto [Wolff] and I sat down during the winter, so it's good to put pen to paper, announce it and then get on with business as usual. We are on the same wavelength both on and off track -- and I am looking forward to winning more in the future and shining even more light on the three pointed star." Hamilton previously said that he would not sign a new contract until he heard what Liberty Media has planned for the sport beyond '20. He said that the new regulations "would determine how long he would commit to Mercedes" (LONDON TIMES, 7/19). The BBC's Andrew Benson reported Mercedes has "dominated F1" since the introduction of turbo hybrid engines in '14, winning four consecutive drivers' and constructors' championship doubles. Hamilton won three of those titles. Wolff said, "There has understandably been a lot of interest and speculation around the whole process, so it's good to put all of that to rest and get this thing announced." The delay on a deal that Hamilton and the team initially expected to conclude last winter "led to speculation that Hamilton might be looking around." In fact, the length of time it took "can be explained simply by Hamilton's busy schedule and the pressures of an F1 season" -- especially one in which Mercedes faces its "toughest fight since the start of the turbo hybrid era" (BBC, 7/19). REUTERS' Alan Baldwin reported Thursday's announcement is "likely to trigger other driver decisions," with Australian Daniel Ricciardo set to remain with Red Bull but "waiting for Mercedes" to set out its plans. Hamilton's current teammate, Valtteri Bottas, is also out of contract at the end of the year (REUTERS, 7/19).
