Thirty-six-year-old Formula One champion Lewis Hamilton will reportedly earn $55 million a year under the new deal with Mercedes.
All of the 36-year-old driver's previous deals were multi-year agreements, so the new deal has raised questions about how long the seven-time world champion will race for the Silver Arrows.
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.
Mercedes F1 boss Toto Wolff hailed a new chapter for a team who have won the last six drivers' and manufacturers' titles with Lewis Hamilton chasing his seventh career crown this season.
The 34-year-old Briton will be out of contract at the end of next season.
The Dutch driver who won the last two Mexico Grand Prix races was stripped of his pole position by race stewards for failing to slow down for a yellow flag that was waved after a Mercedes driver Valtteri Bottas crashed.
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