Lewis Hamilton and Mercedes have finally confirmed that they will continue to stick together for another two years. The seven-time world champion, along with his teammate George Russell announced their contract extensions with the Silver Arrows until the end of 2025.
Although it was quite clear that Hamilton would stay with Mercedes, he has silenced any and all rumors about him moving to another team by putting pen to paper on a new deal.
Recent reports by The Telegraph state that Lewis Hamilton's new contract with Mercedes is not a cheap one. The two-year deal is worth £100 million, with him earning £50 million each season until 2025.
This will make Hamilton the most-paid driver in 2024, more than what the current reigning world champion Max Verstappen earns with Red Bull.
The seven-time world champion said (via PlanetF1) about his contract extension with Mercedes:
“Of course in my heart, I’m so hopeful that the decisions we are taking and the direction that we’re rolling towards is that which will put us in that target zone to be able to fight the [Red] Bulls and be close and be challenging for pole. But, if it’s not next year, we’ll continue to work through it. But in my heart, I truly believe that if it’s not next year, it’s the year after, we will be there.”
Mercedes chairman praises Lewis Hamilton after contract extension
Non-executive chairman and Mercedes-Benz AG CTO Markus Schafer recently spoke about Lewis Hamilton's long and strong partnership with the Silver Arrows and how many races and championships he has won over the years.
Schafer praised Hamilton's drive to push himself and the team forward to win more in the coming years.
"Lewis has forged a relationship with Mercedes-Benz right from the start of his career. In that time, he has claimed seven World Drivers’ Championships, 103 race wins, 195 podium finishes, and 104 pole positions," he said.
"His ambition and commitment to winning are second to none. His boundless positivity and passion to push himself and the team forward are a constant source of pride and inspiration for everyone connected to the team and the wider Mercedes-Benz group," Schafer added.
Lewis Hamilton has particularly signed the two-year deal with the Brackley-based team to clinch his eighth world title before hanging up his F1 boots for good. He is hungrier than ever to lead the world championship table once again, especially after the happenings of the 2021 F1 season.
