The Mercedes AMG Petronas F1 Team has, as predicted, confirmed the much-expected news that reigning World Champion Lewis Hamilton has signed a three-year contract extension to remain in its line-up.

“Mercedes is my home and I couldn’t be happier to be staying here for another three years,” Hamilton said of his contract extension, believed to be worth a record £100m a season.

“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.”

The Englishman joined the Brackley squad from McLaren on a three-year deal at the start of 2013, going on to secure his second Drivers Championship title in his sophomore season with the team last year.

His contract was not renewed during the off-season, and the ongoing negotiations – including their exact terms – had been a topic of frenzied speculation for some months since the start of the season. Hamilton had hinted as recently as the previous Spanish Grand Prix that his contract renewal would be announced in the lead-up to this weekend’s race in Monaco.

Mercedes boss Toto Wolff added his delight at re-signing his star driver.

“Continuity is one of the key factors for delivering success in Formula 1 and we now have that in place,” he said.

“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.”

Image via Mercedes AMG Petronas F1 Team

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Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.