Motorsports Monday: F1 champ Lewis Hamilton could be in for a $150 million payday
Reigning Formula One World Champion Lewis Hamilton is on the verge of signing a massive contract extension with Mercedes-AMG Racing.
Lewis Hamilton and Mercedes-AMG are close to a contract extension that could keep the two-time champion with the team for the remainder of his career the Guardian reported.
Hamilton, who is in the final year of a 3-year $100 million contract, told the Guardian that although he doesn't have an exact timeline for when the contract will be signed, he is committed to the team for the foreseeable future.
The exact terms of the proposed deal have not been released, although the Mirror reported late last year that the deal could be worth as much as $160 million over five years. The 30-year-old recently quashed rumors that he demanded a deal worth as much as $1.6 million per week.
Hamilton, who has amassed 33 wins over eight seasons with McLaren and Mercedes-AMG, will begin his title defense on March 15, in Melbourne, Australia.
