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2016-07-22 09:45

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

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