Hamilton on track in Australia earlier this season
Ahead of the first free practice session for the Monaco Grand Prix tomorrow, Lewis Hamilton has quelled the rumours of a move to Ferrari and signed a three year contract extension with Mercedes. The reigning champion, 30, was out of contract at the end of the season.
It is believed that Hamilton’s new contract is worth up to £27 million pounds a year should all of the bonus clauses be activated. His standard salary is rumoured to be around the £21 million mark.
Hamilton started his career with McLaren in 2007. In his rookie season he finished second in the championship – 1 point behind winner Kimi Raikkonen and tied on points with his double champion and vastly more experienced team mate Fernando Alonso.
In a six year stint, the Brit took 21 wins and the 2008 title for the Woking team.
However, after a disappointing 2012 where mechanical failures cost him a chance of the title, Lewis signed for the Silver Arrows on the promise that he could challenge for the title in 2014.
The promise held true. After winning 11 races, Hamilton took his second title with Mercedes last year and also aided them to take their first ever constructors trophy.
Mercedes look dominant again this year, with both Hamilton and the Brackley based squad leading their respective championships.
It is somewhat unsurprising, then, that Hamilton told the media Mercedes was his home.
“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 board room to floor, and an incredible hunger to win.”
“The Mercedes car I am driving now is the best I have ever had in my career”.
Mercedes commercial boss Toto Wolff added that keeping Hamilton was a priority.
“Continuity is one of the key factors for delivering success in Formula 1”.
“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 next term.” “We have taken the right amount of time with the process and not rushed ourselves.”
“Lewis’s sporting record speaks for itself and he is a great personality for the company.”
It is believed Lewis is now the highest paid British sports person. Fellow F1 driver and 2009 champion Jenson Button took a pay cut to remain with McLaren. He earns £8 million a year, whilst Manchester United and England captain Wayne Rooney earns £100,000 a week less than Lewis.
Mercedes now have both drivers contracted for the next two seasons. Nico Rosberg extended his deal last year to ensure he remained at the Mercedes works team until the end of 2017, whilst Hamilton’s contract runs out at the end of 2018.
