Nico Rosberg signs new two-year contract with Mercedes worth a staggering £36million
German ace puts pen to paper to rubbish speculation linking him with a sensational high-profile switch to rivals Ferrari
NICO ROSBERG has signed a new contract with Mercedes worth a staggering £36million.
The German has agreed a two-year deal with the Brackley-based team which will earn him £18m a year - or £346,000 a week.
Rosberg, who is currently top of the drivers' championship, was in the final year of his existing contract.
And Merc bosses told him over the winter that in order to win a new deal he had to challenge his team-mate Lewis Hamilton for the title.
He responded by winning the opening four races this season to open up a 43 point lead in the title race.
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However, that advantage has now been slashed to just one point after Hamilton won in Monaco, Montreal, Austria and Silverstone.
Rosberg's negotiations were handled by former F1 driver Gerhard Berger who was hoping to earn him a deal closer to £25m a year.
F1'S TOP EARNERS PER YEAR
Sebastian Vettel (Ferrari) £33.4m
Lewis Hamilton (Mercedes) £33m
Fernando Alonso (McLaren) £25m
Nico Rosberg (Mercedes) £18m
Kimi Raikkonen (Ferrari) £12m
Jenson Button (McLaren) £8m
However, given that Ferrari confirmed that they would be sticking with Kimi Raikkonen and Sebastian Vettel for next season, Rosberg's bargaining power was substantially reduced.
Rosberg joined Mercedes in 2010 and has won 19 races for the team and taken 25 pole positions.
His new deal keeps him in fourth place in the top earners on the grid behind Sebastian Vettel, Hamilton and Fernando Alonso.