Lewis Hamilton, one of the most decorated and successful drivers in the history of Formula 1, is no stranger to lucrative deals and contracts. The British driver, who has won seven world championship titles, recently signed a new contract with Mercedes-AMG Petronas Formula One Team, extending his stay with the team for the 2021 season. The details of the new deal have been shrouded in secrecy, but many fans and pundits are wondering just how much it`s worth.

Hamilton, who has been with Mercedes since 2013, is widely considered to be one of the most talented and skilled drivers of his generation, and his success has made him one of the highest-earning athletes in the world. According to Forbes, he made $54 million in 2020, with $12 million in endorsements alone. His net worth is estimated to be around $280 million.

While the exact figures of his new contract have not been made public, it`s believed to be a one-year deal worth around $40 million, with the potential for bonuses based on his performance. This would make Hamilton one of the highest-paid drivers in the sport, alongside Ferrari`s Charles Leclerc and Red Bull`s Max Verstappen.

Hamilton`s new deal comes after months of negotiations and speculation about his future with Mercedes. The 36-year-old had been linked with a move to other teams, including Aston Martin (formerly Racing Point) and even Ferrari, but ultimately decided to stay with the team that has brought him so much success.

The new contract is also significant because it comes at a time of great change for Formula 1. With new regulations set to come into effect in 2022, teams will have to adapt to a new era of hybrid engines and a cost cap, which could level the playing field and create more opportunities for teams to challenge Mercedes` dominance.

For Hamilton, the challenge will be to continue his winning ways and secure an eighth world championship title, which would be a record-breaking achievement. He will also have to contend with tough competition from his teammate, Valtteri Bottas, as well as the young upstarts at Red Bull and Ferrari.

Regardless of what the future holds, there is no doubt that Hamilton`s new contract is a testament to his incredible talent and success in the sport. As one of the greatest drivers of all time, he has cemented his place in history and will continue to be a force to be reckoned with in the years to come.