Lewis Hamilton has signed a new three-year deal with Mercedes worth an astonishing £100m, making him the highest paid sportsman in Britain.

Lewis Hamilton, 30, has ended months of speculation by agreeing a new three-year deal with Mercedes. His new contract will take him up to 2018, netting him an incredible £1.5m per race.

The announcement was made from the glitz and glamour of Monte Carlo. The numbers add up to over £32m per year, or £640,000 per week, and not a penny of that will head into UK tax coffers as he currently resides the tax exile of Monaco.

The youngest-ever F1 champion will draw a salary worth five-times more than the Daimler-Benz Chairman Dieter Zetsche, and the decision to part ways with Simon Fuller’s XIX management team, ensured that 20% of the deal would not leak out of his pocket. Instead, Hamilton chose to work with his trusted lawyer Sue Thackeray.