LONDON (REUTERS) - 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.

Dismissing media reports that the protracted negotiations had become deadlocked over money, the double world champion indicated everything was on track with an announcement imminent.

"You'll see it in Monaco - I will have some news for you in Monaco," the Briton told reporters after Sunday's Spanish Grand Prix in Barcelona.

Media reports have indicated that the 30-year-old, who leads German team mate Nico Rosberg by 20 points in the championship after five races, could net more than US$40 million (S$53 million) a year under the new contract.

Hamilton is out of contract at the end of this season and the saga of his negotiations has kept the media busy since last year, when the talks were put on hold for him to concentrate on the title battle.