Hamilton, 30, has been in direct negotiations with Mercedes executives Niki Lauda and Toto Wolff since late January, having broken ties with Simon Fuller’s XIX Entertainment agency.
The delay in signing prompted speculation that Hamilton had been toying with a move to Ferrari, but he has insisted throughout that sorting out a new contract with Mercedes was a mere formality. The wait for confirmation instead came from the Mercedes board having to sign off the lucrative 80-page document.
• Monaco Grand Prix: five big talking points
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.
• Lewis Hamilton to seal £30m-a-year deal with Mercedes
“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 that this contract means I will mark 20 years with Mercedes in 2018.”
Wolff, Mercedes head of motorsport, added: “Continuity is one of the key factors for delivering success in Formula One and we now have that in place. 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.
On my way to work! #MonacoGP pic.twitter.com/R18UZVJJG2
— Lewis Hamilton (@LewisHamilton)
May 20, 2015
“The result is a strong agreement that will enhance Lewis’ association with the Mercedes-Benz brand, and that recognises and respects the market value of Lewis and of Mercedes in Formula One. 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 One and to more historic achievements together.”
Hamilton will compete at this weekend’s Monaco Grand Prix
With Ferrari improving dramatically this year, some, including Bernie Ecclestone, the sport’s supremo, had hoped he would join the Italian team. But Hamilton has gone with the safer bet of Mercedes. He is extremely comfortable in the team and they give him far from freedom to conduct his own affairs than when he was at McLaren.
By the end of this new deal he could have won six championships if Mercedes keep up their current performance. But now all the speculation is out of the way, Hamilton can focus on the task at hand: winning the Monaco Grand Prix for a second time.