Mercedes nearing 'completed' deal after Hamilton departure

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.

READ MORE: F1 team ANNOUNCE star driver signing on long-term contract

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 sponsorship deal

It was reported after Hamilton's departure that Adidas would take over the reins as Mercedes' official clothing and merchandise partner in a multi-million pound deal and, according to reports, that deal is now completed.

Bild are reporting that, although not officially announced, the deal between Mercedes and Adidas is now done, and that first designs of new clothing have been presented to the Brackley-based team.

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.

READ MORE: Mercedes begin investigation after Hamilton 'sabotage' emails

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