Ferrari’s Lewis Hamilton deal is set to once again make him the highest-paid F1 driver. While neither party has confirmed the details of the contract, a hefty exchange of money is being speculated over. The theories doing the rounds of the internet suggest a $100 million a year salary, coupled with an ambassadorial role that will continue until 2035. The co-hosts of the Red Flags Podcast recently discussed the economics of the deal and believe that the Maranello-based team have not only already recovered what they’ll spend but also made money on top of it.
Podcast co-host Matt Elisofon said, “It’s already paid for itself and then some. How much money they gave them, $500-600 million? It’s already paid for itself.” He then added, “This is a steal. This is an absolute steal!”
Apart from the $100 million a year salary, Ferrari chairperson John Elkann has also proposed a $400 million investment in Hamilton’s ventures. Those include his passion project, Mission 44, which is working towards the promotion of gender and racial inclusivity.
Ferrari, however, has not just recovered the amount they’ll owe to Hamilton once he joins the team in 2025 but made a fortune over it. That is because their market cap soared by 10% after the news of Hamilton’s deal broke. The automaker reportedly made $10 billion from the surging share price.
However, neither party is in this just for money. Both are going through a trophy drought and hope to change that together in 2025. If not in 2025, then definitely in 2026, when F1 goes through another iteration of regulation changes.
Ferrari and Lewis Hamilton could script history together
Ferrari is the most successful constructor in F1’s history. The Italian outfit, however, has lost its touch over the years and hasn’t won a championship since 2008. Coincidentally, that was the year Hamilton won his first of seven drivers’ championships.
The Briton, however, is going through a trophy drought himself lately. He has failed to win a race in the last two years. As far as championships go, it’s been three years since he got his hands on one. He has, however, managed to keep himself not just motivated, but also in shape to compete for one even at the age of 39.
Hamilton can prove to be the crucial cog in Ferrari’s machinery that can lead them to glory. The team boasts of the most talented engineers and a state-of-the-art facility in Maranello. All they perhaps need now is the leadership of an experienced driver who can steer the direction of their cars’ development.
In return, not only would he stamp his authority as the most successful driver in the history of F1 with eight championships, but also build the legacy of doing it with a team like Ferrari.
