Lewis Hamilton has signed a three-year deal with the Mercedes Formula One team and will replace seven times world champion Michael Schumacher, Mercedes said today.

The move for the 2008 world champion comes after Mercedes-Benz signed a new commercial agreement with the sport's commercial rights holders, guaranteeing the team's long-term commitment.

There was no word on Schumacher's future plans.

Austrian Niki Lauda, a triple world champion, will join the team as a non-executive chairman of the board.

McLaren has announced Mexican Sergio Perez as Hamilton's replacement. He will be leaving Sauber.

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