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Lewis Hamilton extends contract with Mercedes F1

Snapshot: Ending all the speculations, Lewis Hamilton has signed a new three-year deal with the Silver Arrow.

Ever since Lewis Hamilton has switched to team Mercedes from team McLaren, he came out to be a different person altogether, a dominant force we would say. And taking forward the successful partnership with the German manufacturer, the Briton has signed yet another 3-year deal with the team. A deal that will retain the world champion till 2018.

Ever since Hamilton started his Formula 1 racing career, he is driving a Mecedes powered car, be it McLaren or be it team the Mercedes itself. Still, there was speculation about his renewal of contract as the existing contract with Mercedes will terminate at the 2015 season end. Though, ending all the speculations, Hamilton signed a new three-year deal with the Silver Arrow.

Like the other F1 deals, this deal was also kept under the secrecy, but if some BBC reports are to be believed, the deal could very much be $40 million per season. That's upwards of a whopping $100 million for the complete contract. The base fees for Hamilton is said to be $30 million per season, while the rest is the bonuses for winning races and championships.

As a refresher, Hamilton has always raced for McLaren or Mercedes ever since he joined racing circuits. He started his career driving a McLaren in 2007, missing the championship on the debut season with a whisker. He won the championship in 2008, before switching to team Mercedes in 2013, for which he won the championship in 2014 and looking good in 2015 also.

"Mercedes is my home and I couldn't be happier to be staying here another three years," said Lewis Hamilton. "The Mercedes car I am driving right now is the best I have ever had in my career."

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