F1: Hamilton stays with Mercedes to 2018

Lewis Hamilton's protracted contract saga has finally come to end with the reigning Formula 1 world champion announcing a new three-year deal with Mercedes. Terms of the deal were not announced but Britain's BBC reports that Hamilton will earn a basic salary of $31 million, plus extensive bonuses.

The 30-year-old will now remain at Mercedes until at least the end of 2018, ending months of speculation over his future and whether he would remain with the team beyond the end of this year.

Hamilton said: "Mercedes is my home and I couldn't be happier to be staying here for another three years.

"This is a company filled with real passionate racers, from the board room to the factory floor, and an incredible hunger to win. Even after the success of last year, that hunger is greater than ever – and it's the same for me, too.

"The Mercedes car I am driving right now is the best I have ever had in my career; it's just so much fun to be out there every weekend, on the limit and fighting to win at every track. Mercedes-Benz began supporting me in 1998, so I am very proud this contract means I will mark 20 years with Mercedes in 2018."

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After starting his career in a Mercedes-powered McLaren in 2007, spending six seasons with the team and winning the world title in '08, Hamilton moved on to the works Mercedes team in 2013.

Overall, Hamilton has won 36 grands prix, with 15 of those in a Silver Arrow, adding a second world championship last season with the marque.

Mercedes motorsport boss Toto Wolff made it a priority to re-sign Hamilton, who it is understood now becomes Britain's highest-paid athlete with this latest contract.

"Continuity is one of the key factors for delivering success in Formula 1, and we now have that in place," Wolff said. "Lewis enjoyed an historic world championship season with Mercedes-Benz last year, and it was a priority for this season to renew his contract for the next term.

"We have taken the right amount of time with the process and not rushed ourselves. The result is a strong agreement that will enhance Lewis' association with the Mercedes-Benz brand, and that recognizes and respects the market value of Lewis and of Mercedes in Formula 1.

"Lewis' sporting track record speaks for itself and he is a great personality for the company. Personally, I am looking forward to continuing to race with the strongest driver pairing in Formula 1, and to more historic achievements together."

Originally on Autosport.com