Charles Leclerc Set to Get Big Salary Bump to $54 Million as Ferrari Edges Close to Guarantee Monegasque’s Services

Charles Leclerc has reportedly signed a new bumper contract extension with Ferrari just as he was entering the last year of his current deal. The Monegasque is all set to get a whopping salary of $50 million following his latest contract extension. His new deal is a five-year contract that will last until the end of 2029.

According to gazzeta.it, Ferrari have agreed to double Leclerc’s current salary from $25 million per year to $50 million. The report adds that Carlos Sainz, on the other hand, has requested a new two-year contract.

As for Leclerc, he was presumably keen to extend his services after Ferrari witnessed an upturn in form following the Austrian Grand Prix. Another reason why the 26-year-old perhaps would have wanted to sign a new deal with the Prancing Horse is because it has always been his dream to win the championship in red.

Will Carlos Sainz follow Charles Leclerc in extending his contract?

With Charles Leclerc having now reportedly extended his contract, all eyes will now be on Carlos Sainz. The Spaniard has been an integral part of the Italian outfit in the past few seasons and almost matched Leclerc in the championship in 2023. Sainz finished seventh with 200 points, while Leclerc finished fifth with 206 points.

Since Ferrari have such a strong driver line-up, they do not see any reason to change it. While Ferrari does have two of the best drivers on the current grid, all their focus over the winter break will be to produce a car that can fight Red Bull for the championships in 2024.

The Milton Keynes outfit has been in a league of their own as they managed to win a record 21 out of the 22 races this season. Hence, although Red Bull will also be the favorite in 2024, Ferrari with their additional development time, looks like the team that can come closest to challenging the team from Milton Keynes.