NEW TWO-YEAR DEAL: Mercedes Formula 1 driver Nico Rosberg penned a new contract with the team for the 2017 and 2018 seasons. Image: AP / Luca Bruno
Budapest - Nico Rosberg travelled to the Hungaroring with a new two-year contract in his back pocket.
The team and the German driver announced the news with a video on Twitter showing Rosberg, 31, and Mercedes chief Toto Wolff signing a piece of paper.
Racing for Merc in 2017 and 2018
And Bild newspaper said the deal including bonuses will be worth about €45-million or close to R700-million.
On Thursday (July in Budapest, Rosberg said he was navigating the process of negotiating the new deal without affecting his focus on his racing.
The German driver said: "Of course you need to be careful, because it can influence and take some energy away.
"I have Gerhard Berger who is handling it for me, specifically to make sure that I don't lose any focus on the racing."
Watch: Nico Rosberg signs new Mercedes deal