Lewis Hamilton, the seven-time Formula One world champion, has signed a new deal with Mercedes and will continue to partner compatriot George Russell in 2024 and 2025, the company announced on Thursday.
There were no financial specifics provided, but media sources said the arrangement may be worth 50 million pounds ($63.41 million) per year for Hamilton.
The 38-year-old British driver last won a race in 2021, with Red Bull and double world champion Max Verstappen now dominating after ending Mercedes’ record streak of eight consecutive constructors’ world titles.
Hamilton, the sport’s most successful driver, joined Mercedes from McLaren in 2013 and has won six championships and 82 of his 103 races with the team.
The announcement came as little surprise, with both parties eager to continue despite the fact that contract discussions took longer than expected.
“We have never been hungrier to win,” Hamilton stated in a team statement.
“We have learned from every success as well as every failure. We will continue to pursue our dreams, to fight no matter what, and to win again.
“I’m grateful to the team for their help both on and off the track. Our narrative isn’t over; we’re motivated to do more together and won’t stop until we do.”
Russell joined Mercedes last season as a replacement for Valtteri Bottas and won his maiden race in Brazil, the last time Red Bull was defeated.
“Keeping our current driver lineup was an easy decision,” said team boss and co-owner Toto Wolff.
“We have the strongest pairing on the grid, and both drivers are critical to the team’s progress. Their strength and stability will be critical building blocks for our future success.
“Our collaboration with Lewis is one of the most successful in the history of the sport. It was always a formality that we’d stay together, and it’s energizing for us all to have it confirmed publicly”.
The Austrian disclosed that Hamilton’s leadership qualities would be critical for Mercedes, but his influence extended far beyond the racing arena.
“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 the foundations for our success in the years ahead,” Wolff added.
Russell, 25, was commended by the team’s manager for his quickness and tenacity.
“He also brings intelligence and attention to detail, which will help him to continue to grow, develop, and improve. He is a natural match for the team, and we are thrilled to have extended our connection for the foreseeable future.”
