Lewis Hamilton has agreed to donate £42,000 to the FIA after he failed to attend last December’s Formula One prize-giving ceremony in Paris.

Hamilton and his Mercedes boss Toto Wolff boycotted the event which was staged five days after Max Verstappen controversially won the world championship in Abu Dhabi.

The sport’s rules dictate that the drivers finishing first, second and third in the championship must be in attendance.

And on the eve of the new season, Hamilton has now been officially sanctioned by the FIA. The seven-time world champion was also “reminded of his obligation of sportsmanship”.

A statement from the governing body read: “FIA president Mohammed Ben Sulayem met yesterday with Sir Lewis Hamilton to discuss the work being done by the FIA and key motor sport stakeholders to build greater diversity and inclusion for the motor sport industry.

“In the spirit of commitment to building a more diverse sport in the future, the FIA president gave his full support to Hamilton’s decision to make a donation of 50,000 euros that will be used to support a student from a disadvantaged background in achieving an educational qualification in motor sport.

“The FIA and Hamilton will work together with an independent panel throughout this process.

“During the meeting, the circumstances that led to Hamilton’s absence from the 2021 FIA Prize Giving Ceremony were also discussed.

“Hamilton acknowledged the importance of celebrating the year’s achievements with the prize-winners from across motor sport and the FIA president reminded Hamilton of his obligation of sportsmanship, particularly in view of his status in motor sport.”

Hamilton’s two-year Mercedes contract, which expires at the end of next season, is worth £80million.