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.
Malaysia will stage its final Formula One Grand Prix in October after the government and the sport's commercial rights holders announced on Friday that their hosting agreement would end a year early.
A summary of sports events and persons who made news on Friday
The second triple-header of a pandemic-hit season will be in front of empty grandstands and behind closed doors at Silverstone, celebrating 70 years since the first world championship grand prix there in May 1950.
Lewis Hamilton will head into his home British Grand Prix praying for the sake of the fans that angry Mercedes bosses continue to allow him and team mate Nico Rosberg to race each other freely.
Ferrari had every hope of winning their home Italian Grand Prix for the first time since 2010 on Sunday and they blew it.
How the designers of the Olympic logo broke the rules to send out a message that the Games were no longer just for the elite.
Lewis Hamilton has raised his game but whether the Mercedes driver can deny Ferrari a second successive win of the season in China this weekend remains to be seen.
Formula One championship leader Nico Rosberg's hopes of an eighth successive win, and fifth of the season, disappeared on Sunday after a collision with Mercedes team-mate Lewis Hamilton on the opening lap of the Spanish Grand Prix.
Four-time world champion Sebastian Vettel has joined the bandwagon of drivers opposing the newly proposed aggregate qualifying format of the Formula One. According to the latest qualifying format, a driver's two best laps in each of the three knockout sessions will be combined in order to determine the grid position. Meanwhile, the 90-second qualifying format that saw the drivers get eliminated one by one rather than being dismissed at the end of each session in the season-opening Australian Grand Prix and in the Bahrain Grand Prix would be dropped. Hitting back at the new format, the Ferrari driver compared the new system with the circus and insisted that the F1 should focus only on racing, the Guardian reported Echoing similar views, Mercedes executive director Toto Wolff described the new format as `madness` and said that all the teams wanted to revert back to that of the previous season.
'Every great Formula One season is marked by a great rivalry. Last year it was our internal battle between Lewis and Nico and this year it seems that the fight is on between Ferrari and Mercedes and Lewis and Sebastian'
'I'm the first one to say we shouldn't be speaking bad about things on TV, but I think the new qualifying format is pretty rubbish'
Indian Defence Minister A K Antony is 'very suspicious of the private sector', leading Indian business baron Jamshyd N Godrej has said.
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.
Formula One teams have been warned against making 'dummy' pitstops after Mercedes' failed attempt to fool Williams.
Formula One leader Nico Rosberg felt sore enough at losing Sunday's Italian Grand Prix without then having to face conspiracy theories suggesting he had done it deliberately.
Swiss racer Simona De Silvestro's hopes of becoming the first woman since 1976 to race in Formula One have suffered a setback with the Sauber team ending a testing deal due to her lack of funds.
Mexican Sergio Perez was waiting for the go-ahead to race in Formula One's 70th Anniversary Grand Prix after ending quarantine for COVID-19 on Thursday.
'I could never have dreamed of being where I am today.'
Red Bull are among a number of team frustrated by their inability to keep up with Mercedes, who dominated Formula One last year and cruised to an easy victory in Sunday's season-opening Australian Grand Prix
While 40-year-old racers were relatively common in the sport's early days, they are a rarity in modern Formula One with an increasing emphasis on youth.
Hamilton wrapped up his record-equalling seventh title in Turkey last month and picked up his 11th win of the season in Bahrain on Sunday. Mercedes have already won the constructors' title for an unprecedented seventh year in a row.
Sunday's explosive Azerbaijan Grand Prix more than made up for last year's dull race in Baku, bursting the budding 'bromance' and replacing it with something much more heavyweight.
Hamilton responded to Mercedes motorsport head Toto Wolff who said that driver discord was a major weakness in the team and that they wanted 'nice guys'
Ross Brawn will stand down as principal and leave the Mercedes Formula One team at the end of the year, Mercedes said in a statement on Thursday.
Formula One is braced for the next episode of the Max Verstappen show as Red Bull's teen sensation heads for Ferrari's home circuit only days after making the Italian team's drivers see red. While triple world champion Lewis Hamilton is aiming for his 50th grand prix win on Sunday, to become the first since Argentine Juan Manuel Fangio in the 1950s to win three years in a row at Monza, Verstappen will be the talk of the town.
Troubled Indian businessman Vijay Mallya is set to make a rare public appearance in the United Kingdom on Friday when he is scheduled to attend the team bosses press conference ahead of the Formula 1 British Grand Prix.
Indian striker Sunil Chhetri returned among goals in Kansas City Wizards' 7-1 thrashing of Baker University in a friendly match at the Swope Park Training Center in Kansas City, US.
Sunil Chhetri scored on debut as Kansas City Wizards thrashed University of Tulsa 5-1 in a friendly match in Missouri, United States.
Is Lewis Hamilton sufficiently appreciated at home?
Mick Schumacher, the 19-year-old son of seven-times Formula One world champion Michael, won the European Formula Three title.
Mercedes driver Lewis Hamilton has insisted that his team must consult him on who would replace recently-retired world champion Nico Rosberg next season before also warning them against signing big names like Fernando Alonso.
Ferrari, expecting rain, sent Vettel and team mate Kimi Raikkonen out on the intermediate tyres at the start of the final shootout phase of qualifying.
Hamilton has won half of the season's 20 races so far, propelling his team to an unprecedented sixth successive title double, but Brazil was a disappointing weekend with Valtteri Bottas retiring.
Ferrari won the race in one-two formation, with Sebastian Vettel leading Charles Leclerc, for their third successive victory.
Formula One champions Mercedes can rack up their eighth successive victory on Sunday but even if they do, a winning streak must end for either Lewis Hamilton or Nico Rosberg in Bahrain. Rosberg is chasing his fifth win in a row after starting the season triumphantly in Australia to follow the three victories he racked up at the end of 2015. Hamilton, the triple world champion who finds himself behind his German team mate in the standings for the first time since 2014, is on for a hat-trick after winning in Bahrain for the past two years. The Briton is the favourite at a circuit that has yet to witness a Rosberg victory but Ferrari, who roared into the lead at the start in Melbourne with Sebastian Vettel followed by Kimi Raikkonen, also fancy their chances.
My strongest emotion right now is deep gratitude to everybody who supported me to make that dream happen
Red Bull driver Max Verstappen has received a flurry of criticism from the Formula One world, including legendary driver Niki Lauda who asked him to consult a psychiatrist after the teenage driver was involved in a three-car collision in last week's Belgian Grand Prix.
The family's departure marks the end of an era after 43 years and 739 Grands Prix.
Leading broadcaster ESPN has acquired pioneering cricket website Cricinfo.
