Lewis Hamilton has finalized a new contract extension with Mercedes, securing his position with the Formula 1 team until the end of the 2025 season. The deal, reportedly worth $55 million annually, solidifies Hamilton’s standing as one of the highest-paid athletes in the world. This new contract comes after months of speculation about Hamilton’s future, with potential offers from Ferrari and even rumors of retirement.
At 38, Hamilton remains a dominant figure in Formula 1, having won seven world championships and 103 races, achievements that have made him a global icon in motorsport. The contract extension not only ensures his continued participation in F1 but also reflects his deep connection with Mercedes, a team he has driven for since 2013, helping the team secure multiple constructors’ titles.
While Mercedes and Hamilton were initially reported to be in long negotiations, with Hamilton seeking a long-term role that could extend beyond racing—potentially as a brand ambassador—the final agreement focuses on his racing career for the next two seasons. His salary puts him on par with his chief rival, Max Verstappen of Red Bull, who reportedly earns a similar amount.
Hamilton’s contract comes at a crucial time for Mercedes, as the team looks to regain its championship-winning form in the face of fierce competition from Red Bull. While Mercedes has faced challenges this season, Hamilton’s leadership and experience are expected to play a key role in the team’s efforts to return to the top. As the new contract begins, the F1 world is eager to see if Hamilton can add to his record-tying seven world championships.
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