(Budapest) Mercedes team boss Toto Wolff announced on Saturday that he and Lewis Hamilton had “emotionally” reached agreement on a new contract to keep him with the Formula 1 team beyond this season.

Speaking after the end of the Hungarian Grand Prix’s Hamilton-dominated third free practice session, Wolff assured the seven-time world champion’s contract extension was not yet signed, but “done”.

“We didn’t sign him, but emotionally we did,” he told Sky Sports.

His response should end months of speculation over Hamilton’s future, which some rumors sent to Ferrari in 2024. The Austrian gave no details on the length of the deal with the 38-year-old British driver who has won six of his seven titles with Mercedes, a team he joined in 2013.

With 121 points, Hamilton is currently 4th in the World Championship standings, with two second places in Australia and Spain as his best results this season, a long way from Dutchman Red Bull Max Verstappen (255 points), on track to conquer a third title in a row.