F1: Lewis Hamilton set to sign £40m-a-year Mercedes deal before the British GP

Lewis Hamilton’s Formula 1 future is expected to be decided before the British Grand Prix on 8 July.

It’s reported by The Daily Telegraph that the reigning F1 world champion will sign a new deal with Mercedes for “at least another two seasons”.

Hamilton is in the final year of his current contract but after long negotiations with Mercedes he is set to sign new terms worth £40m a year. The new contract would make Hamilton Britain’s highest-earning sports star.

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Mercedes boss Toto Wolff said: “We don’t want to drag it out much longer. I expect it to be done very, very soon.”

The Telegraph adds that with Hamilton “seemingly certain to stay” he will likely be partnered next season by current teammate Valtteri Bottas.

After his victory in France last weekend Hamilton leads the F1 drivers’ standings by 14 points from Ferrari’s Sebastian Vettel. Bottas is fourth in the standings, 53 points behind his Mercedes teammate Hamilton.

Another driver whose F1 future is up in the air is Red Bull’s Daniel Ricciardo. The Australian is out of contract at the end of the season and had been linked with a move to Mercedes. But last week it was reported that McLaren are interested in signing him for 2019.

The next F1 grand prix is this Sunday, 1 July, at Spielberg in Austria.