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Mercedes Formula One driver Lewis Hamilton of Britain leaps off of his car after winning the U.S. F1 Grand Prix at the Circuit of The Americas in Austin, Texas October 25, 2015. Hamilton clinched his third Formula One world championship on Sunday after winning a thrilling and unpredictable U.S. Grand Prix for Mercedes. Image Credit: Reuters

Austin, Texas: Lewis Hamilton celebrated in true Texan fashion after winning his third Formula One world title and the party could go on to the end of the year.

“I plan the next couple of months to be party time,” the Briton had declared before joining his Mercedes teammates at the original Pete’s Dueling piano bar in Austin’s historic East Sixth Street.

The establishment describes itself as a “a sing-along, clap-along, drink-along, have-one-helluva-good-time-along bar” and Hamilton was in the mood.

“My mum’s 60th is coming up, I’ve got friends’ events coming up, more races to win, got the team after-year party, the Stars and Cars...Jeez, man. I’ve got to get some good sleep because there’s going to be a lot of partying as far as I’m concerned,” he said.

The party was also to celebrate Mercedes retaining their constructors’ title and Hamilton’s teammate Nico Rosberg, almost motionless on the podium a few hours earlier, was even more up for it.

Mercedes posted a picture on their Twitter account of the German belting out Bon Jovi’s ‘Livin’ on a Prayer’ on stage, with the comment “Sing it out Boy, you’ve got to see what tomorrow brings.”

Hamilton, who will be racing again in Mexico this weekend, said he could appreciate just how much steam Rosberg had to let off after another tough year.

Rosberg’s frustration with his race, in which he came out worse in a first corner clash with Hamilton and then made a late error that cost him victory, was encapsulated by an incident before the podium when Hamilton tossed him a cap and had it thrown back at him.

“I literally said ‘here you go mate’ and then it came back at me. I can understand in many respects how it is,” said Hamilton.

“It’s the worst thing to be my teammate,” added the champion, who has won 10 races this year to Rosberg’s three.

Last year the balance was 11 to Hamilton and five to Rosberg.

“I don’t think I can enjoy it any more than I have been. I have been enjoying this year like, if only you knew,” Hamilton said of his season. “I have been enjoying this year like it was my last. It really has been unbelievable.”

Asked to define whether he was having fun like a playboy or a rockstar, he smiled: “Both. Both, definitely.

“It is just work hard, play hard,” Hamilton, who was interviewed on the Austin podium by singer Elton John, said of an approach that has made him a regular in the celebrity gossip pages with regular visits to America’s east and west coasts.

“I have just struck a real nice balance. At some points you are like it is really on the limit and then I get in the car and I drive the way that I do.”

Meanwhile, Ferrari vetoed Formula One cost reduction measures that included a proposal to set a maximum price for the engines and gearboxes manufacturers supply to customer teams, governing body International Automobile Federation (FIA) said on Monday.

The FIA said it had studied a range of measures including a global cost ceiling, the use of technical and sporting regulations to cut costs and increased standardisation of parts.

“The FIA, in agreement with FOM [the commercial rights holder], suggested the principle of setting a maximum price for engine and gearbox for client teams at the last Strategy Group meeting,” it said in a statement.

“These measures were put to the vote and adopted with a large majority.

“However, Ferrari SpA decided to go against this and exercise the right of veto long recognised under agreements governing F1.”

The FIA said it had decided not to make a legal challenge to Ferrari’s veto, in the interests of the championship, but would now talk to all stakeholders about the possible introduction of a cheaper engine option from 2017.

It could then call for tenders for the contract.

Mercedes motorsport head Toto Wolff confirmed separately that Ferrari had used their veto.

“There was discussion about opening up the rules for next year as a main topic and whether there would be any appetite from us for a standard engine...and Ferrari decided to vote against the change in supply price,” he said.

Formula One’s commercial supremo Bernie Ecclestone said on Saturday that the plan was to offer a less complex engine as an alternative to the costly V6 turbo hybrid power units made by Mercedes, Ferrari, Renault and Honda.

Teams could then choose which to use.

“They [the cheaper engines] will probably have more power and use more fuel. It means I suppose that there would be regulation changes, which have already been anticipated for 2017 so there’s nothing new,” said Ecclestone.

The sport switched from V8s to V6 turbo hybrids last year. The alternative is likely to be a 2.2 litre V6 twin turbo similar to those used in the US Indy Car series.

Ecclestone indicated Cosworth would be interested in returning with a less complicated option but others were also in the frame.

The 84-year-old said the introduction of a different engine would not turn the championship into a two-tier series and pointed out that decades ago the sport had both turbo engines and normally-aspirated ones.