Lewis Hamilton signs new Sh4.6Billion-a-year Mercedes contract

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Lewis Hamilton has agreed a two-year contract extension with Mercedes through to the end of the 2020 Formula One season, the team have announced.

No financial details were given in a Mercedes statement but British media reports have suggested the new deal could be worth up to £40 million a year and was likely to make Hamilton the sport's top earner. The result moved Vettel eight points ahead of Hamilton in the drivers' championship and saw Mercedes accuse Ferrari of orchestrating first lap accidents to gain the upper hand in races.

Mercedes' Lewis Hamilton suffers a hydraulic failure during the German GP Q1 qualifying session and sinks to his knees with dejection.

"This contract extension has basically been a formality since Toto 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", said Hamilton who joined the Mercedes team in 2013.

Moments after informing the team radio that his gears had stopped working, Lewis Hamilton jumped out of his auto and attempted to push it back to the pitlane as he desperately tried to avoid elimination in the first round of qualifying.

He went on to explain that the two-year duration of the deal was a "strategic decision", as Formula One has yet to finalise commercial contracts with teams beyond the end of 2020.

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"I'm really pleased", said Bottas. "We have got a great relationship and it has gone from strength to strength".

"Most people would not have been given the timeframe I chose to take, but the one thing that shows is the trust we have between each other". I am not investigating to see what other options there are.

"It is always fantastic to have the real F1 drivers spending time with the game and giving us feedback on the handling and the game as a whole".

"It looks like Lewis will be at the back so we will both be charging", said Red Bull's Australian Daniel Ricciardo, who will be starting at the back after engine penalties.

Hamilton will be nearing his 36th birthday at the conclusion of his latest contract and he has made no secret of his desire to forge a career in fashion or music. "I am also very conscious of how long it is beyond retirement".

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