Two-time Formula One world champion Lewis Hamilton has put pen-to-paper on a new three-year deal that will keep him at Mercedes until the end of the 2018 season.
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Mercedes did not quote the value of the contract, however, The Telegraph reports it to be worth upwards of £30m a season.
Hamilton said he was delighted to stay on with Mercedes, saying it was his “home”.
“Mercedes is my home and I couldn’t be happier to be staying here for another three years,” Hamilton said in a statement.
“This is a company filled with real passionate racers, from the board room to the factory floor, and an incredible hunger to win.”
The 30-year-old former McLaren driver said the current Mercedes was the best car he’d ever driven and said his hunger to succeed at the pinnacle of motorsport was greater than ever.
“Even after the success of last year, that hunger is greater than ever – and it’s the same for me, too,” he said.
“The Mercedes car I am driving 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.”
Hamilton had been linked with a move to Ferrari following his protracted contract negotiations with Mercedes, however the Brit claimed that “legal” issues were slowing down the process.
He leads the current 2015 championship by 20 points over teammate Nico Rosberg.
Mercedes motorsport boss Toto Wolff said he believed his team held the strongest driver pairing in Formula One.
“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,” Wolff said.
“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 1 and to more historic achievements together.”