News, views and top stories in your inbox. Don't miss our must-read newsletter Sign up Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid Email

Grand Prix legend Michael Schumacher has said "yes" to a Formula One comeback.

The 40-year-old has finally been persuaded to come to the rescue of car giant Mercedes, who gave him his Grand Prix break 19 years ago.

Mercedes came up with £125,000 to hand Schumacher, then an unknown, his F1 debut for Jordan at Spa in 1991.

Next season, he will fill the seat vacated by world champion Jenson Button's McLaren switch, as revealed by Mirror Sport.

And contrary to reports that the sport's most successful racer would be earning just £6million, the German will actually rake in the biggest salary in F1 next season, totalling nearly £20m.

Yet, even at that price he faces a cut from his £30m price-tag during his days at Ferrari.

It means that having initially refused to meet Button's demands for a minor pay hike, Mercedes are having to pay twice as much for this admittedly quality replacement.

But they are more than happy to do so when the name involved is Schumacher.

Mercedes bosses Norbert Haug, Nick Fry and Ross Brawn appear to have pulled off the coup of the century, after the car giant took over the World Champion Brawn operation last month. They will also be breathing a huge sigh of relief as the star line-up they had promised for their new 'works' team was looking decidedly threadbare after failing to land Button or Kimi Raikkonen.

While karting at Kerpen at the weekend Schumacher refused to comment, and the seven-time world champion has yet to sign on the dotted line, but sources in Germany say the deal has been done.

Schumacher has even cleared the path for the Mercedes move by negotiating his way out of a three-year agreement to be the ambassador to Ferrari's road car division.

Although the pact between Schumacher and Ferrari boss Luca di Montezemolo was only verbal, the Italians, who made him champion five times, have been stunned by the U-turn.

But the chance of becoming the father figure and leader to what is effectively Germany's answer to Ferrari was just too good to resist. And Schumacher has got an extra boost thanks to an allclear from doctors on a neck injury he sustained motorcycle racing at the start of the year.

Mercedes' insistence that they are not turning the British champions into Team Germany is now even harder to swallow.

They have two German drivers, a German boss in Haug and a German engine. And Mercedes have already admitted the German national anthem will ring out over the circuit when they win a Grand Prix.

New team Lotus are expected to confirm ex-Toyota star Jarno Trulli as lead driver. McLaren refugee Heikki Kovalainen is expected to land the other seat under design ace Mike Gascoyne as chief technical officer.