Portugal Colonial - 'Unfinished business' pushes Hamilton to two more years at Mercedes

Seven-time world champion Hamilton will extend his F1 career until beyond his 40th birthday alongside fellow Briton George Russell at the Silver Arrows, where he won six of his drivers' titles between 2014 and 2020.

"You're stuck with me for a bit longer!" joked Hamilton to reporters in Monza.

"I couldn't be happier to be extending with this team, we've had such an incredible journey together.

"We still have unfinished business, so we're in this together, we've got a lot of work to do to get us back to the front. But there's no place I'd rather be.

"The goal is simple, setting the target is simple, achieving that target is not... We're trying to win more world championships. the unfinished business is getting us back to the top."

Hamilton's tally of seven F1 titles puts him level with motor racing icon Michael Schumacher and he was only denied a record-breaking eighth world crown in the final race of 2021 following a controversial safety car ruling.

However Hamilton said that his decision to continue racing was "not about revenge" for a defeat which was then followed by a crushing Verstappen victory last season and almost certain triumph for the dominant Dutchman this year.

"That's in the past, there's nothing you can do about the past," said Hamilton.

"I truly believe that with this team we can win more championships and more races together. That's where my energy is going."

- 'Incredibly grateful' -

The 38-year-old is reportedly set to earn around £50 million ($63.4 million) a season with Mercedes after renewing a contract which was set to expire at the end of the current campaign.

Mercedes' announcement brought to an end speculation over Hamilton's future as they struggle to compete with Red Bull who have won every GP so far this season.

Last season Hamilton failed to win or claim pole position at any GP for the first time in his career, while this year he is yet to add to his record 103 race victories.

July's pole in Budapest was his first in 33 GPs, and he finished that race in fourth after making a poor start in a race won by Verstappen.

Retirement looked increasingly likely, in particular because Mercedes have struggled to adapt to changes to technical requirements which came into force at the start of the year.

But Hamilton appeared motivated on Thursday as he spoke about his continuing desire to compete at the top of the sport.

"I didn't think that I'd be at the age I am and feel the way that I do physically and mentally, and still love what I'm doing as much as I do," added Hamilton.

"That's something that I'm incredibly grateful for... I still have that love for what I do, I still love getting in the car, I still love racing with my peers."

Hamilton currently sits fourth in the drivers' standings, 183 points behind leader Verstappen who at Monza is hunting a record-breaking 10th straight GP win.

Mercedes sit second in the constructors' championship standings but trail Red Bull by a whopping 285 points.

J.Pereira--PC