Whether the rumors of the total compensation are true or not, the fact is that Lewis Hamilton will be working with Mercedes until 2018 according to the team.
A new 3-year deal has been signed and this finalizes contract negotiations which have strung out since late last year. The 30-year-old champion is rumored to be making in the neighborhood of $70 million for his efforts but neither Mercedes nor Hamilton have released any information regarding the contract price.
Lewis Hamilton commented:
“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; it’s just so much fun to be out there every weekend, on the limit and fighting to win at every track. Mercedes-Benz began supporting me in 1998 so I am very proud that this contract means I will mark 20 years with Mercedes in 2018.”
Head of Mercedes-Benz Motorsport Toto Wolff continued:
“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. We have taken the right amount of time with the process and not rushed ourselves. The result is a strong agreement that will enhance Lewis’ association with the Mercedes-Benz brand, and that recognises and respects the market value of Lewis and of Mercedes in Formula One. 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.”