F1 musical chairs

Widespread reports this morning have suggested that Lewis Hamilton will indeed leave McLaren for Mercedes at the end of the season.

The 2008 Formula One World Champion is said to have made his decision yesterday with an announcement set to be made later today.

The news brings an end to the on-going saga regarding Hamilton's McLaren contract, which has been the subject of much speculation over many months.

Reports though indicate that the Mercedes deal is not as high as first thought. It had been believed that the Mercedes offer was £60million over a three-year-deal, however its now thought that Mercedes offer is closer to £15million-a-season, a similar pay packet to his current McLaren deal.

McLaren's plan B is also as expected, with Sergio Perez set to move from Sauber to McLaren at the end of the season, ending an almost year long rumour-mill that the Mexican driver would leave Sauber for Ferrari.

With Hamilton and Perez's imminent futures tied up it leaves two other drivers in limbo, seven-time former F1 title holder Michael Schumacher is now without a seat in Formula One, will he look to move to another team or retire for a second time?

While Felipe Massa has watched on as Jenson Button, Mark Webber, Lewis Hamilton and Sergio Perez have all agreed deals with other teams following speculation linking them with his seat. Will the Brazilian now hold on to his Ferrari drive for a further year?