Lewis Hamilton: F1 star signs £40m-a-year extension with Mercedes to become 8th most-paid sports star in the world

Hamilton and Mercedes who have been partners since 1998 just announced the deal which runs through the end of 2020.

Formula One star Lewis Hamilton has signed a two-year contract extension with Mercedes worth £40m a year to become the eight most-paid sports star in the world.

Hamilton and Mercedes who have been partners since 1998 just announced the deal which runs through the end of 2020.

Although the specifics of the deal were not revealed, Daily Mail report that the 33-year-old will earn up to £40-million-a-year making him the highest-earning British sportsperson.

 

The new expansion upped his earnings with Mercedes by about £8m-a-year from £32m. 

Biggest earner in Formula One

 

“This contract extension has basically been a formality since Toto [Wolff] and I sat down during the winter, so it's good to put pen to paper, announce it and then get on with business as usual,” the four-time world champion said on the Mercedes website.

“I have been part of the Mercedes racing family for 20 years and I have never been happier inside a team than I am right now.

“We are on the same wavelength both on and off track - and I am looking forward to winning more in the future and shining even more light on the three-pointed star. I'm very confident that Mercedes is the right place to be over the coming years.

“The competitive passion that burns bright inside me is shared by every single member of this group - always chasing the next improvement and digging even deeper to make sure we come out on top. I can't wait to see what we can achieve together in the next two-and-a-half seasons.'

Hamilton’s new deal also means he is now the highest earner in the Formula One more than Ferrari's Sebastian Vettel who is on £38m a year.