RUMOUR: Hamilton signs new £40 million contract to stay at Mercedes

Lewis Hamilton has reportedly signed a new deal with Mercedes that will keep him at the team until the end of the 2020 season. The deal is touted to be worth £40million as Mercedes look to keep the four-time champion with the team.

The Daily Mail report that the deal does not include an option to extend a further year into 2021, coinciding with new regulation changes that include a revamp of the engine regulations of the sport.

According to SportBild, Mercedes is allegedly deciding when to announce the deal and are looking at either the British Grand Prix just over a week away or at the home of Mercedes at the German Grand Prix.

"It's all about the right time for the announcement," said Mercedes boss Toto Wolff.