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F1: Lewis Hamilton re-signs with Mercedes for reported $52 million per year

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HOCKENHEIM, Germany — Formula One champion Lewis Hamilton has finally signed a new contract with Mercedes.

After months of deliberation and stalling, the four-time F1 champion penned a new deal with Mercedes until 2020. No figures were given in a Mercedes statement on Thursday, but it is reportedly estimated at 40 million pounds ($52 million) per year.

Mercedes has won the past four drivers’ and constructors’ championships – with Hamilton clinching three of them – but this season is testing the Silver Arrows team.

Hamilton trails Ferrari driver Sebastian Vettel by eight points, and Mercedes is 20 points behind Ferrari in the constructors’ championship.

The 33-year-old Hamilton has won 65 races – 44 of those with Mercedes – and secured 124 career podiums. He is the F1 record holder with 76 pole positions.

F1 races in Austin, Mexico City hitting financial rough patches

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AUSTIN, Texas — Two of Formula One’s three races in North America are facing financial issues that are raising concern about their future.

Organizers of the U.S. Grand Prix won’t get at least $20 million from the state of Texas for the 2018 race after missing a paperwork deadline set by state law. And new questions lurk about the future of the Mexican Grand Prix after the country’s new president suggested the government may not spend on the race like it has the last four years.

Both races have been popular with drivers and fans, and have enjoyed key dates on the F1 calendar. Mercedes driver Lewis Hamilton clinched season championships in Texas in 2015 and in Mexico City in 2017 and 2018.

Officials in Formula One and at the Circuit of the Americas, host of the U.S. Grand Prix, did not immediately respond to requests for comment Wednesday.