Mercedes announces new Rosberg deal on Twitter

Budapest - Nico Rosberg travelled to the Hungaroring with a new two-year contract in his back pocket.

The team and the German driver announced the news with a video on Twitter showing Rosberg, 31, and Mercedes chief Toto Wolff signing a piece of paper.

Racing for Merc in 2017 and 2018 

And Bild newspaper said the deal including bonuses will be worth about €45-million or close to R700-million.

On Thursday (July in Budapest, Rosberg said he was navigating the process of negotiating the new deal without affecting his focus on his racing.

The German driver said: "Of course you need to be careful, because it can influence and take some energy away. 

"I have Gerhard Berger who is handling it for me, specifically to make sure that I don't lose any focus on the racing."

Watch: Nico Rosberg signs new Mercedes deal

?????????????????? pic.twitter.com/67cDB6sLJB

— Nico Rosberg (@nico_rosberg) July 22, 2016

Signed, sealed, delivered... pic.twitter.com/wdDdUar90n

— MERCEDES AMG F1 (@MercedesAMGF1) July 22, 2016