Lewis Hamilton will reportedly leave McLaren at the end of the season to join Mercedes.
McLaren team principal Martin Whitmarsh recently hinted that the 2008 champion was prepared to sign a new deal with the British team.
"I believe Hamilton and Mercedes have already agreed personal terms and a deal could be imminent," said BBC Sport's Eddie Jordan.
Hamilton, who was involved in a crash at the recent Belgian Grand Prix, is currently fourth in the driver rankings.
