Hamilton to Join Mercedes in $100 Million Move, Telegraph Says

Lewis Hamilton will announce today that he’s leaving the McLaren Formula One team to join Mercedes on a three-year contract said to be worth $100 million, the Daily Telegraph reported.

Hamilton’s decision to join Mercedes is almost certain to end the career of record seven-time world champion Michael Schumacher, who may be offered an ambassadorial or management role with the Brackley, England-based team, the Telegraph added.

Daimler AG (DAI)’s Mercedes team is waiting for its board in Stuttgart to sign off on new terms tying it to Formula One before making an official announcement regarding Hamilton, the newspaper said, without saying where it got the information.

Hamilton, 27, has been at Woking, England-based McLaren all his racing career and won the 2008 F-1 world championship with the team.

To contact the reporter on this story: Dan Baynes in Sydney at dbaynes@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.