F1 News: Mercedes nearing 'completed' deal after Lewis Hamilton Ferrari departure

Toto Wolff, Mercedes, 2024, Photoshop, Social — Photo: © IMAGO

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Mercedes nearing 'completed' deal after Hamilton departure

Mercedes have announced a new sponsorship deal

By Sam Cook.

Friday 5 July 2024 21:00

Mercedes are about to announce a huge new sponsorship deal worth $10 million, according to reports.

The Silver Arrows are in a mini rebuild after Lewis Hamilton revealed that he was leaving the team to join Ferrari for 2025.

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Key staff members have followed Hamilton in heading for Ferrari, while the decision over who will partner George Russell from next season still hasn't been made.

On top of this, several sponsorship deals are coming to an end, including the team's merchandise partners Puma and Tommy Hilfiger, with whom Hamilton is a brand ambassador.

Mercedes and Adidas are set to join forces

Lewis Hamilton will join Ferrari in 2025

Mercedes and Adidas sponsorship deal

Adidas CEO Bjorn Gulden told Bild a couple of months ago that the brand were hoping to branch into the world of F1.

"We are talking to several teams. Most Formula 1 contracts run until 2026, so I hope we can come to a conclusion," he said.

Although an official price has not yet been put on the deal, the German publication have suggested that the original reported figure of around €10 million per year is within the right ball park.

Lewis Hamilton Ferrari Mercedes George Russell