Oscar Piastri has put pen to paper on a contract extension with McLaren that will see his financial fortunes transform drastically. The Australian racing ace and the Woking-based team announced his latest extension on Wednesday, in the lead up to the season-opening Australian GP — which incidentally is Piastri’s home race in Melbourne — this weekend.
After signing the extension, the #81 driver is reportedly going to earn a whopping sum of $26 million per year until the end of the 2028 season at least. This means he has bagged a handsome $20 million pay rise as his salary per his previous contract was around $6 million.
Piastri’s performances last season led to rival teams potentially wanting to make a play to lure him away from McLaren. Naturally, the team’s CEO, Zak Brown, would have been eager to secure the two-time Grand Prix winner’s future, irrespective of the financial implications.
No sooner was this news out, fans and experts swarmed to X (formerly Twitter) to share their reactions. In fact, F1 journalist Kunal Shah commented, “How much will Mark Webber make,” commending the former F1 driver’s work as Piastri’s manager.
How much will Mark Webber make?
— Kunal Shah (@kunalashah) March 12, 2025
Webber has been a key cog in kickstarting the Melbourne-born driver’s F1 career, after he had to spend a year out as Alpine’s reserve post his 2021 F2 title triumph. It was Webber who led the negotiations with McLaren and even though it became a controversial move away from Alpine, the ex-Red Bull man got Piastri the seat at Woking.
So, this new McLaren deal would certainly be a massive win for Webber and he may look for better remuneration as well amid Piastri’s hike.
WHAT is Mark Webber doing to McLaren https://t.co/2A8ccTOTyt
— casey (@casey_eff01) March 12, 2025
Many deemed that such a hike in salary and a long-term deal was ‘worthy’ of Piastri‘s talent and the kind of improvement he has shown in only two years at the pinnacle of motorsport.
Worth it for his talent.
— MotorSphere (@motor_sphere) March 12, 2025
The 23-year-old’s latest contract isn’t going to be just about more money in his pockets. With the MCL39 touted as the favorite to bag both the championships this year, Piastri will want more authority within the team to legitimize his title ambitions.
What about Papaya Rules in 2025?
Last season, a clear debate emerged within the Woking-based team about who was their number one driver. Whilst Brown and team principal, Andrea Stella maintained neutrality, the term ‘Papaya Rules’ often popped up — which was a cleaner term for team orders.
Piastri has proven that he is capable of battling wheel-to-wheel with his teammate, Lando Norris. And while last year, the 23-year-old was willing to play the team game to help Norris’ title bid, this year he has his eyes on the prize, too.
Moreover, Webber is an astute negotiator who himself knows a thing or two about the importance of having a driver given ascendancy within a team after his torrid time with Sebastian Vettel at Red Bull from 2009 to 2013.
Naturally, he would have ensured that before signing this latest extension, there were several clauses that would put Piastri on equal terms with Norris, not just financially but also on the track.
