Lewis Hamilton's plans for F1 2013 and beyond are expected to be announced today, with confirmation of a switch from McLaren to Mercedes.
With Hamilton moving to Mercedes, and teaming up with Nico Rosberg, Michael Schumacher will be left without a drive. It not yet known if the German will continue with another team or opt to retire, although several reports suggest the latter is more likely, especially given his return has not exactly gone to plan, yielding just one podium.
Meanwhile at McLaren, Sergio Perez is the hot tip to replace Hamilton and join Jenson Button.
Other candidates linked to the seat include Force India pair Paul di Resta and Nico Hulkenberg.
According to British newspaper, The Daily Telegraph
, "Mercedes are waiting for their board in Stuttgart to sign off on the new Concorde Agreement, the commercial pact which binds the teams to the sport, before making an official announcement regarding Hamilton. That announcement should arrive today".
"Right up until the end the move was kept shrouded in secrecy. McLaren are only understood to have been informed of Hamilton's decision yesterday, and may hold a press conference of their own this morning, at which they will announce their next move," the 'paper adds.
Although the terms of Hamilton's move are likely to be kept private, The Guardian
alleges a three-year deal has been agreed.
It is not known if there are any options for beyond 2015 or if there are any get-out clauses.
“Hamilton will sign for Mercedes on a three-year deal worth £15m a year. The irony of that is that it is not significantly more than Hamilton is being paid at the moment. He is coming to the end of a five-year deal that has been repeatedly reported as being worth £75m, or £15m a year, but which in fact is worth about £13m-£14m per annum.”
More to follow as we get it...