Lewis Hamilton has finally signed his new Mercedes contract to formally confirm his place on the Formula 1 grid for a 2021 season when he will aim for a record eighth world title.

More than a month after his previous deal expired, Mercedes confirmed seven-time champion Hamilton had agreed terms to stay on – although, in contrast to past deals, a contract for just a single season was announced.

Hamilton, who turned 36 in January, has previously signed agreements of at least two years in F1.

It is understood that both Hamilton and Mercedes wanted the flexibility of a short deal.

Notably, the deal includes a commitment from both sides to create a joint charitable foundation, which Mercedes say “will have the mission of supporting greater diversity and inclusion in all its forms in motorsport”.

Hamilton launched his own commission to look into the reasons for under-representation for those from minority backgrounds in motorsport last year, while Mercedes have pledged to improve the diversity of their own team.

“I am excited to be heading into my ninth season with my Mercedes team-mates,” said Hamilton, who joined the Brackley team in 2013 and has won six of the past seven F1 world titles to rewrite the sport’s record books.

“Our team has achieved incredible things together and we look forward to building on our success even further, while continuously looking to improve, both on and off the track.

“I’m equally determined to continue the journey we started to make motorsport more diverse for future generations and I am grateful that Mercedes has been extremely supportive of my call to address this issue. I’m proud to say we are taking that effort further this year by launching a foundation dedicated to diversity and inclusion in the sport.

“I am inspired by all that we can build together and can’t wait to get back on the track in March.”