Current Formula One World Champion Lewis Hamilton has just renewed his contract with the Mercedes Formula One team for a further three years.
With the new deal, the British racer will be piloting Mercedes F1 cars to the end of the 2018 season at the least. Unsurprisingly, further details about the new contract remain under wraps but it is suggested that Hamilton could receive as much as $40 million annually excluding any promotional and sponsorship deals he also agrees to. It is claimed that Hamilton’s base salary for 2016, 2017 and 2018 will sit at $31 million with the further millions coming as bonuses for race and championship victories.
Discussing the deal, Hamilton said “Mercedes is my home and I couldn’t be happier to be staying here for another three years. This is a company filled with real passionate racers, from the board room to the factory floor, and an incredible hunger to win. Even after the success of last year, that hunger is greater than ever – and it’s the same for me, too. The Mercedes car I am driving right now is the best I have ever had in my career.”
According to the head of Mercedes-Benz Motorsport Toto Wolff, “Continuity is one of the key factors for delivering success in Formula One and we now have that in place. 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.”