Mercedes deciding announce date for Hamilton contract

Mercedes is simply determining the right time to announce Lewis Hamilton's new contract.

Multiple media sources are now reporting that Lewis Hamilton has finally put pen to paper on a new $45-million per year deal for 2019 and 2020.

One big family

"Mercedes has become like my family. There is no reason to change," the quadruple world champion told Sport Bild.

READ: 'Mercedes chiefs want me to stay' - Lewis Hamilton

A new contract for Valtteri Bottas will then follow, with Sport Bild reporting that Hamilton requested that the Finn stay as well.

The German source said the only outstanding matter is Mercedes' deliberations about when to announce the contract.

It is believed the announcement will be made either ahead of Hamilton's home race at Silverstone on 8 July, or Mercedes' home race at Hockenheim two weeks later.

"It's all about the right time for the announcement," Wolff confirmed.