Lewis Hamilton signed a new two-year contract with Mercedes in July worth around £40m per year, as the Briton chases an unprecedented eighth F1 world championship.
If Hamilton can clinch the title this season ahead of fierce Red Bull rival Max Verstappen, he would move clear of Michael Schumacher’s long-standing record of seven titles.
Hamilton, 36, is the best-paid driver on the grid and rightly so after proving himself to be the dominant force in the sport over the past decade.
His reign is coming under threat, however, from a new generation led by the Dutchman Verstappen, as well as Hamilton’s future teammate joining the Mercedes garage next season, the young British driver George Russell.
What did Hamilton say after signing his contract?
“It is hard to believe it’s been nearly nine years working with this incredible team and I’m excited we’re going to continue our partnership for two more years,” said Hamilton.
“We’ve accomplished so much together but we still have a lot to achieve, both on and off the track. I’m incredibly proud and grateful of how Mercedes has supported me in my drive to improve diversity and equality in our sport.
“They have held themselves accountable and made important strides in creating a more diverse team and inclusive environment.”
What is Hamilton’s net worth?
Hamilton is Britain’s richest ever sportsperson. According to The Times’ rich list in 2021, Hamilton’s net worth is estimated to be £260m, up £36m on the previous year.
His net worth accelerated rapidly after switching from McLaren to Mercedes and quickly becoming the best paid driver on the F1 grid, alongside a raft of high-profile sponsorships.
