(Mercedes AMG PETRONAS F1 Team)
Reigning world champion Lewis Hamilton is expecting to finalise a new contract with the Mercedes AMG PETRONAS F1 Team by the end of this week.
The new three year deal is according to the BBC worth £20.9 million a year however with victory and championship winning bonuses it could reach £27 million a year. The double world champion is into the final year of his initial three year agreement with the Brackley based outfit.
Hamilton, who is negotiating his own contract for the first time in his Formula One career initially believed that a deal would be concluded prior to the Australian Grand Prix, however following his second place finish at the Malaysian Grand Prix over the weekend Hamilton stated that the deal should be concluded by the end of this week and it is 99.6% in place.
Hamilton’s new contract will reportedly put his salary on a par with McLaren Honda’s Fernando Alonso and Scuderia Ferrari’s Sebastian Vettel.
© Ben Johnston 2015