Lewis Hamilton signs new contract with Mercedes

HOCKENHEIM, Germany -- Lewis Hamilton has signed a new two-year contract with Mercedes that will keep him at the Formula One team until the end of 2020.

The news puts an end to months of negotiations between team and driver, with the deal estimated to be worth up to £40 million a year. The length of the new contract matches Mercedes' current commitment to Formula One and will tie Hamilton to the team until he is 35 years old.

Although negotiations over details in the contract dragged through to the tenth race of the season, Hamilton said a renewal was never in doubt.

"This contract extension has basically been a formality since Toto and I sat down during the winter, so it's good to put pen to…