Lewis Hamilton deserves his cash, says Niki Lauda

Austrian Lauda, a three-time world champion, was closely involved in the negotiations that led to the confirmation of a deal that is widely reported to be worth more than 100 million dollars.

His former McLaren team-mate and fellow Briton Jenson Button, the 2009 world champion, said he had heard of the money that Hamilton may earn. "It's amazing," he said.

Just signed my new deal, 3 more years. A huge thank you to Mercedes for their support over these last 17 years. This will take us to 20 years together. I am so grateful for their belief in me. To this team, I am incredibly proud to drive for you all and I hope this shows you that the commitment is reciprocated. I will not give up on you. We have a long way to go, let's keep killin it. Thank you for all you do and for helping me be the best I can be. Now let's race!!! #MonacoGP

A photo posted by Lewis Hamilton (@lewishamilton) on May 20, 2015 at 8:44am PDT

Mercedes gave no details of the financial arrangements in their announcement Wednesday confirming the contract.

But Lauda said: "The world champions like Vettel, Alonso and Lewis all deserve roughly the same. They work for the money and they earn it.

"When you see how they drive and what they achieve, how Lewis has been driving, it is really something."