Few driver pairings in F1 history have been as hyped as Lewis Hamilton-Charles Leclerc. One has been the team’s golden boy for years and is looked at as the man who will end their Championship drought. The other, a seven-time World Champion, arrives with the desire to firmly establish himself as F1’s best-ever by winning a title in red.
Financially, however, the move is unsurprisingly expensive.
Leclerc already had an existing mega long-term contract with the Maranello-based outfit and deservedly so, being the face of the Scuderia since his arrival in 2019. And to get in Hamilton, a huge commercial asset, Ferrari always knew they had to break the bank.
Individually, their deals feature big numbers, but combined, it looks even more colossal.
Hamilton’s three-year contract with Ferrari will see him earn $50 million a season, plus $20 million if certain bonuses are met. This figure could be higher based on the reports of an $87 million salary figure — a part of which will go to Hamilton’s charity Mission 44 — that came out early last year.
For Leclerc, the figure is $34 million with provisions for a $12 million bonus.
| THE LECLERC-HAMILTON COULD COST FERRARI $116 MILLION
Hamilton has a 3-year contract worth $50 million per season, plus a $20 million bonus. Leclerc has extended his contract until 2028 with an annual salary of $34 million, plus a $12 million bonus. pic.twitter.com/UdXaHrhvUO
— La Gazzetta Ferrari (@GazzettaFerrari) February 2, 2025
So, other than their base payouts, if the bonus criteria for both drivers are fulfilled Ferrari would have to dish out $116 million in 2025 itself. To put into perspective, the overall budget cap for F1 teams as of today stands at $135 million. Thankfully, driver salaries aren’t a part of the limit.
Commercial and sporting returns expected
Hamilton wanted to leave Mercedes, so the negotiations with Ferrari were not very difficult. However, he was still the most marketable driver on the grid, so President John Elkann knew that he had to offer something big.
The Briton’s new salary (including bonuses) could see him become the highest-paid driver in F1 once again, toppling Max Verstappen ($60 million + $15 million) off the summit.
But Ferrari knows that they will get returns from this investment. From a sporting point of view, the Scuderia arguably has the best lineup on the grid. With a competitive car, it is highly likely that they will secure the Championship, which Ferrari last won in 2008.
Even if Hamilton doesn’t hit the ground running or Ferrari fails to field a strong car for the 40-year-old, the top bosses will find comfort in knowing that commercial success from his arrival will almost certainly make up for the amount of money they put behind his signing.
Of course, Hamilton won’t be satisfied with that and will be looking to chase on-track success as well.
