‘Story isn’t finished’: Lewis Hamilton puts speculation to bed with staggering new $196m deal

Seven-time F1 champion Lewis Hamilton has ended months of rampant speculation with a staggering $196m move.

Lewis Hamilton gives an interview after winning the Turkish Formula One Grand Prix at the Intercity Istanbul Park circuit in Istanbul on November 15, 2020. - Lewis Hamilton won the race to seal his 7th World Championship. (Photo by Clive Mason / POOL / AFP)

Lewis Hamilton will continue racing in Formula 1 until at least the end of 2025 after finally agreeing to a contract extension with his Mercedes team.

Mercedes has also confirmed George Russell will continue with Brackley through to 2025, locking in one of the sport’s strongest driver pairings for the remainder of the current regulatory cycle.

Whereas Russell was thought to already be under contract for next year, news of Hamilton putting pen to paper ends months of rumours the seven-time champion could be considering leaving Mercedes for another team or to retire.

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Lewis Hamilton has locked in another two years at Mercedes. (Photo by GIUSEPPE CACACE / AFP)

Both Hamilton and Mercedes boss Toto Wolff have long described a new deal as a formality, but protracted negotiations have left open the door to rumours that the two parties were further apart in terms than publicly suggested.

Instead the 38-year-old will stay with the team into his 40s on a reportedly £100 million ($196 million) two-season deal, giving himself a chance to contend for a record-breaking eighth world championship.

“We dream everyday of being the best and we have dedicated the past decade together to achieving that goal,” Hamilton said.

“Being at the top does not happen overnight or over a short period of time. It takes commitment, hard work and dedication, and it’s been an honour to earn our way into the history books with this incredible team.

“We have never been hungrier to win. We have learnt from every success but also every setback. We continue to chase our dreams, we continue to fight no matter the challenge and we will win again.

“I’m grateful to the team who have supported me both on and off the track. Our story isn’t finished, we are determined to achieve more together and we won’t stop until we do.”

George Russell is also sticking with Mercedes. (Photo by Peter Fox/Getty Images)

Hamilton is statistically the most successful driver ever to race in Formula 1, having amassed 103 victories and 104 pole positions, 82 and 78 of which respectively have come since he switched to Mercedes in 2013. Six of his seven titles have come with the German marque.

Team principal Wolff said Hamilton was central to the team restoring itself to title contention.

“His qualities as a pure racing driver are illustrated by his remarkable track record, but over our years together he has grown to become a pillar and leader of our team,” he said.

“Those leadership qualities are crucial as we focus on fighting for world championships again.

“As F1’s biggest global star, he has also played a key role in shaping our commitments to diversity, inclusion and sustainability that will be foundations for our success in the years ahead.”

Wolff also paid tribute to Russell, 13 years Hamilton’s junior, as being an easy choice to keep at the team.

The dream team is going nowhere. (Photo by NELSON ALMEIDA / AFP)

”George is a leading light of his generation,” he said. “As a driver he combines razor-sharp speed with the tenacity of a true fighter.

“But he brings too an intelligence and attention to detail that will help him to continue to grow, develop and improve further.

“He is a natural fit to the team and we are delighted to have extended the relationship for the coming years.

“Continuing with our current driver line-up was a straightforward decision. We have the strongest pairing on the grid, and both drivers are playing a crucial role in the team to move us forward.

“The strength and stability they provide will be key building blocks for our future success.”

Mercedes is second in the constructors championship, up from third last season, on 255 points, 285 points behind Red Bull Racing.

Lewis Hamilton is fourth in the drivers championship on 156 points, with Russell seventh on 99 points. Max Verstappen leads with 339 points.

— with AFP

Originally published as ‘Story isn’t finished’: Lewis Hamilton puts speculation to bed with staggering new $196m deal