Lewis Hamilton has put pen to paper on a new deal with Mercedes that will keep him with the team for the next three years.

Reports emerged earlier today that the two parties had finally come to an agreement after talks had been ongoing since last year.

Hamilton's old contract was due to expire at the end of this season, but Mercedes have now confirmed that they have tied the reigning world champion down for another three years.

The deal is reported to be worth up to £100m, which would make Hamilton the highest-paid British sportsman in the world and also put him on a par with Fernando Alonso and Sebastian Vettel as the best-paid drivers in the sport.

Hamilton has been the dominant force in Formula 1 recently, winning nine of the last 11 races to help Mercedes control the constructors' championship.

The Brit is also on course for a second consecutive drivers' championship title, leading teammate Nico Rosberg by 20 points going into this weekend's Monaco Grand Prix.

Having also won the title back in 2008, Hamilton would join the likes of Ayrton Senna, Sir Jackie Stewart, Sir Jack Brabham, Niki Lauda and Nelson Piquet as three-time champions with another success this season.