The summer-into-fall saga of Lewis Hamilton’s Formula 1 future appears headed for Mercedes from 2013, according to British newspaper reports. Hamilton is set to replace Michael Schumacher at the team, having not yet renewed with McLaren.
In a report from the British Daily Telegraph, Mercedes is waiting to sign off on the new Concorde Agreement before making an official announcement. The Guardian estimates Hamilton’s new deal valued at £15m a year for three years (roughly $24.3 million annually).
Hamilton has won three times this year but with several failures to finish, his title chances have taken a hit. The 2008 World Champion would be pairing with Nico Rosberg for the first time since their karting days with Mercedes. They arrived in F1 a year apart, after each winning the GP2 title the year previous.