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Formula One sensation Lewis Hamilton has signed a new five-year contract, thought to be worth £70million, which will keep him in the McLaren hot seat until 2012.
The 23-year-old’s new deal secures him a serious rise in salary compared to the paltry £355,000 he was paid for his rookie season.
Not including personal sponsorship deals, Hamilton is set to bag roughly £13.7million a year between now and 2012. He has previously hinted that he would be prepared to stay with McLaren for his whole career.
And you can understand why he moved to Switzerland. Lewis would have been hit with a £28million income tax bill from the UK government, had he stayed in Stevenage.
Will Powell
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