Formula One record world champion Michael Schumacher made room for Briton and McLaren driver Lewis Hamilton who joined the Silver Arrows on a three-year deal, Mercedes Formula One team said on its official website on Friday.

The 43-year-old and seven time world champion Schumacher will be replaced by 2008 world champion Hamilton at the Mercedes AMG Petronas F1 Team due to missing results.

"I have had three nice years with the team which unfortunately did not go as well as we all would have wanted on the sporting side. I wish Lewis well and for the team to achieve the success we worked so hard for in the build-up. I would like to thank the team for their trust and all the guys for their unconditional commitment. I will now concentrate on the next races," Schumacher said in an official statement.

The signing of Hamilton marks the final driver line up for the 2013 season with teammate Nico Rosberg, who had won his first Grand Prix in China this year.

"It is now time for me to take on a fresh challenge and I am very excited to begin a new chapter racing for the Mercedes Formula One Team. Mercedes-Benz has such an incredible heritage in motorsport, along with a passion for winning which I share. Together, we can grow and rise to this new challenge. I believe that I can help steer the Silver Arrows to the top and achieve our joint ambitions of winning the world championships," Hamilton said.

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