Thirty-six-year-old Formula One champion Lewis Hamilton will reportedly earn $55 million a year under the new deal with Mercedes.
Formula One will make a second attempt to hold the Turkish Grand Prix this season after adding it to the calendar as a replacement for Singapore's cancelled race in October.
Organisers say sprint qualifying over a distance of 100km will determine the starting grid and give the top three finishers three, two and one point respectively.
Mick, the 22-year-old son of F1 legend Michael Schumacher, will make his debut for Haas in Bahrain on March 28, 2021.
Portugal's Portimao circuit, in the Algarve, will host a Grand Prix for the second time in its history.
Alonso will team up with Frenchman Esteban Ocon, on the repackaged Alpine team.
Fernando Alonso was taken to hospital after an accident in Switzerland on Thursday and he will remain under observation for a further 48 hours.
Australia was given a new date of November 21 for what would normally be the season-opener in Melbourne.
Lewis Hamilton, who has Covid-19, has to return a negative test result by Thursday or his substitute George Russell will be in the driving seat again, according to Mercedes team chief Toto Wolff.
The seven-time Formula One world champion wrapped up his record-equalling seventh title in Turkey last month and picked up his 11th win of the season in Bahrain on Sunday.
Formula One's managing director for motorsport Ross Brawn says W Series has been "a beacon to many" since the championship started.
F1 chairperson Chase Carey announced that Saudi Arabia will become the 33rd country to host a round of the Formula 1 world championship in 2021.
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