Lewis Hamilton Extends Mercedes Stay With New Two-Year Deal

Ruben Hill
July 20, 2018

"I hope that because of the fact that we failed in football this year that people saved a little bit of money on barbecues and so on and they can come here and go camping this weekend", said Vettel, who grew up in nearby Heppenheim. "Although we have enjoyed so much success together since 2013, Mercedes is hungrier than ever".

Mercedes executive director Wolff was thrilled to end the protracted negotiations and announce Hamilton's extension.

Though nobody is willing to speak numbers it is widely speculated that the two-year deal is worth £40m a year.

Hamilton made it clear that he had never actively looked for an opportunity elsewhere, and having committed to Mercedes team boss Toto Wolff at early stage, he did not use other offers as bargaining tools.

Sebastian Vettel, who now leads Hamilton by eight points in the championship before this weekend's race at Hockenheim, is thought to earn $40 million (£30 million).

On Thursday, Mercedes confirmed a new contract extension for the reigning champion which will keep him at the team until the end of 2020, the same year Vettel's existing Ferrari deal expires.

As nobody now knows what F1 will look like in 2021 and beyond, or which teams will still be part of F1 when the sport's rules and regulations have been rebooted, nearly all of the deals around Formula 1 now expire at the end of 2020.

Despite the long-running saga over whether Hamilton would sign on again with the team, Mercedes were confident the deal would be done and said they were waiting for the "right time" to announce it.

The identity of his teammate next season, however, is uncertain with highly-rated rookie Charles Leclerc mooted to replace Kimi Raikkonen.

Hamilton has put pen to paper on a bumper new contract.

Anthony Joshua is the only other British sportsman in the top-25, while Gareth Bale (35) is the best-paid British footballer.

Not only will Hamilton be climbing further up the Forbes rich list and the highest-paid driver in his sport, it also means he'll be pocketing a higher yearly wage than Cristiano Ronaldo - which is pretty mental considering his recently revealed Juventus wage. Watch live on Sky Sports F1 from July 20-22. Sky Sports F1 is the only place to watch every Formula 1 Grand Prix, qualifying and practice session live in 2018.

Other reports by Click Lancashire

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