British media reports have suggested the new deal could be worth up to 40 million pounds ($52 million) a year and is likely to make the four-time F1 champion the sport's top earner.
Formula One champions Mercedes expect to be beaten by Ferrari this season and also see McLaren catching up fast after a dismal 2015 for the Honda-powered team, engine head Andy Cowell said.
Dutch Formula One driver Max Verstappen collected two special awards for the second year in a row at the International Automobile Federation (FIA)'s gala prize-giving ceremony on Friday.
Williams have vowed to be more aggressive in Sunday's Malaysian Grand Prix after scoring points with both cars in Bahrain's season-opener.
Statistics for Sunday's season-ending Abu Dhabi Formula One Grand Prix at the Yas Marina circuit.
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Brazilian Felipe Massa put Williams on top on the penultimate day of pre-season testing in Bahrain on Saturday while Red Bull's quadruple world champion Sebastian Vettel failed to complete a lap.
Lewis Hamilton's record already bears comparison to Michael Schumacher's, and in some areas exceeds the great German's achievements.
Germany's Nico Rosberg can win his first Formula One title in Abu Dhabi on Sunday while Lewis Hamilton remains in contention to become Britain's first four times world champion.
Formula One world champion Lewis Hamilton set the pace in an incident-filled opening Monaco Grand Prix practice on Thursday, with debris and a loose drain cover bringing an early end to the session.
The McLaren driver has only one piece of advice for Formula One's rookie drivers: 'Let us past.'
Lewis Hamilton's long-awaited new deal with Mercedes could be announced at the showcase race of the Formula One season in Monaco next week.
India's women's doubles pair of Jwala Gutta and Ashwini Ponnappa crashed out of the Bitburger Open Grand Prix Gold on Thursday after suffering a straight-game defeat against the Malaysian pair of Hui Ern Ng and Hui Lin Ng in the second round in Saarbrucken, Germany.
Embattled Force India co-owner Vijay Mallya will not be attending Sunday's Spanish Grand Prix but he is hoping for a change of fortune on the track at least for his Formula One team in Barcelona.
Russian Grand Prix winner Lewis Hamilton might cover the distance in a matter of minutes but it has taken more than half a century for Mercedes to add their names to the likes of Ferrari, McLaren and Williams.
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Lewis Hamilton boosted his morale with the fastest lap in Russian Grand Prix practice on Friday after Mercedes team mate Nico Rosberg set the early pace and Ferrari suffered reliability problems.
Lewis Hamilton edged his Mercedes team mate on his final flying lap to secure pole position for the Singapore Grand Prix on Saturday, the Briton crossing the line just 0.007 seconds ahead of the German.
Finnish driver Valtteri Bottas will partner Britain's triple world champion Lewis Hamilton at dominant Mercedes, winners of the last three drivers and constructors' titles and favourites again this year.
Karthikeyan today set a scorching pace on the first of four-day testing for Williams F1 team.
A track vehicle that parked close to the pitlane entrance during Chinese Grand Prix qualifying posed a low but still unacceptable risk, Formula One race director Charlie Whiting has said.
The German, winner of the season's first two races, had been second before coming in for a fresh set of tyres while Hamilton won with one stop from pole position.
The win also set a record, one that Hamilton had previously shared with seven times champion Michael Schumacher, of 41 wins from pole position.
The Italian grabbed the third pole position of his career, knocking Honda's Jenson Button off the top spot as the seconds ticked away at the end of the session.
"It was unbelievable, to have a fastest race lap under normal conditions in your first ever Grand Prix," Nico Rosberg's father, 1982 champion Keke said.
Sebastian Vettel led a Ferrari one-two at the top of the timesheets in final practice for the Bahrain Grand Prix on Saturday, ending the stranglehold of previously dominant champions Mercedes. Vettel lapped the Sakhir Circuit in a best time of one minute 31.683 seconds, 0.040 faster than team mate Kimi Raikkonen on the supersoft tyres. It was the first time this season that any driver from outside the Mercedes pairing of Nico Rosberg and triple world champion Lewis Hamilton had ended practice on top. Hamilton was quickest in all three sessions in Australia two weeks ago while championship frontrunner Rosberg led his team mate in Bahrain practices one and two on Friday. Rosberg was third fastest in practice three, his time of 1:32.104 slower than Friday when he did 1:31.001, with Hamilton fourth.
Spain came strongly from behind to demolish world champions Germany 4-1 in the Rabo Trophy hockey tournament.
As we prepare to cruise into the New Year, Rediff.com gives you a glance back, through photos, into all the sporting moments that made the last 12 months memorable.
Lewis Hamilton has hinted he could walk away from Formula One at the end of the season, while also indicating it was highly unlikely.
The German was joined on the front row of the grid by reigning world champion and closest rival Lewis Hamilton, in a Mercedes.
Fernando Alonso felt lucky to be alive after walking away from a spectacular crash that left his obliterated McLaren scattered across the Albert Park circuit and brought a halt to the Australian Grand Prix on Sunday. Alonso's right wheel clipped Esteban Gutierrez's Haas at high speed going into turn three of the 18th lap and the impact sent the Spaniard's McLaren careening into a barrier, smashing it to pieces, before it flipped, rolled and flew end-over-end into another barrier. The two-time Formula One world champion emerged from the wreckage and walked gingerly over to Mexican Gutierrez, where the pair embraced. "I'm okay, I'm trying to put everything in place again," the 34-year-old told Sky Sports in the paddock after Nico Rosberg won the race for Mercedes.
The Williams Formula One team have boosted Indian Narain Karthikeyan's hopes of a reserve role next year by calling him back for more tests in Spain.
The Indian was faster than German rookie Nico Rosberg who has secured the team's second race drive for 2006.
Lewis Hamilton of Mercedes stormed to pole position with a scorching lap in qualifying for the Malaysian Grand Prix as title rival Sebastian Vettel was left stranded in the garage and will start dead last.
Sebastian Vettel drove a flawless tactical race to claim his maiden victory for Ferrari at the Malaysian Grand Prix on Sunday, registering the first Formula One win for the Italian team since 2013.
'I'm so grateful for everyone who helped me be here, to raise the bar and lift the cup'
'I think the team's getting stronger, pushing very hard. I think people are fired up and we are motivated for tomorrow'
Mercedes's brilliant pitstop strategy spoiled the game for Max Verstappen in Hungarian Grand Prix, says Rediff's F1 columnist Raja Sen.
Australian Daniel Ricciardo won the Chinese Grand Prix for Red Bull on Sunday while Ferrari's championship leader Sebastian Vettel finished only eighth.
Former world champions Fernando Alonso and Jenson Button are among six drivers hit with a plethora of penalties on the grid for Sunday's Italian Grand Prix at Monza.
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