Nov. 3 (Bloomberg) -- Lewis Hamilton paid back his McLaren team's decade-old bet on his racing talent yesterday by becoming the youngest Formula One champion.

Hamilton, signed as a 13-year-old go-kart driver, clinched the title by grabbing the fifth place he needed on the last bend of the season-ending Brazilian Grand Prix to finish one point ahead of Ferrari race winner Felipe Massa.

``Thank you for believing in me,'' Hamilton, 23, told McLaren teammates by radio after crossing the finishing line at Sao Paulo's Interlagos circuit.

Hamilton, the grandson of immigrants from Trinidad and Tobago, is the first black champion of the 58-year-old series and Britain's first winner since Damon Hill in 1996. He gave Woking, England-based McLaren its first driving title since Mika Hakkinen's 1999 triumph.

``I'm so proud of Lewis,'' McLaren manager Ron Dennis, 61, said in a team statement. Hamilton first approached Dennis about a drive with the team at age 9 at an awards ceremony.

Hamilton blew a shot at the title in his rookie season at last year's season-ending event after leading the standings for 10 races. He finished seventh, allowing Ferrari's Kimi Raikkonen to win the championship by one point.

He was almost denied another championship yesterday when McLaren gambled by changing to wet-weather tires when there was a downpour with six laps left.

``It was a bit risky,'' Dennis said.

Last Lap

Hamilton fell to fifth from fourth and then was overtaken by Toro Rosso's Sebastian Vettel with two laps left. He wrested back fifth place by passing Toyota's Timo Glock, who was still running on dry-weather tires.

``It was despair with two laps to go,'' Hill, who watched yesterday's race on television at the U.K.'s Silverstone track, said in a statement released by the British Racing Drivers' Club. ``We couldn't believe what we were watching because we thought `how's it gone wrong at this late stage?'''

Hamilton told ITV he wasn't sure he'd done enough until he got a radio message from his McLaren team.

``I was kind of like `Do I have it, do I have it?' and then they came over and told me,'' Hamilton said. ``I was ecstatic.''

As Massa crossed the finishing line, the Brazilian's father, Luiz Antonio, hugged other family members in the Ferrari garage, thinking his son had won the title, only to be deflated moments later. Massa lifted his visor and wiped away tears.

Gracious Loser

``Sport is like this and one has to accept that,'' Massa said in a Ferrari team statement. ``Whoever gets the most points deserves the title.''

Hamilton raised his hand into the air to celebrate while still driving his car. After getting out of his car, he ran over to hug his brother, Nick, and McLaren mechanics.

McLaren, which was kicked out of the 2007 constructors' championship and fined $100 million in a spying scandal, finished second for its best performance since 2005. It last won the team title in 1998.

``It's been such a long journey, with a lot of support from people back home,'' Hamilton told ITV. ``I'm so thrilled to be able to do this for everyone.''

To contact the reporter on this story: Alex Duff in Madrid at aduff4@bloomberg.net

Last Updated: November 2, 2008 21:12 EST