Oscar Piastri’s breakthrough season last year has seen his stock rise meteorically within the F1 paddock. The two-time Grand Prix winner has reportedly been on the radar of many top teams, and McLaren were keen to secure his services for the long term.
This saw a multi-year contract extension formalized between the duo of Piastri and McLaren earlier this week. According to the Daily Mail, the #81 driver’s latest deal with the Woking-based team will see him tied down with McLaren until the end of the 2030 season.
The likes of Christian Horner had openly expressed his desire of wanting to sign the Australian racing ace. The Red Bull boss was up in praise for him during the latest season of Netflix’s Drive to Survive docu-series. This could have prompted Zak Brown to push pen and paper towards Piastri.
BREAKING: McLaren announce multi-year contract extension with Oscar Piastri ✍️#F1 pic.twitter.com/JDOYZ7ul5u
— Formula 1 (@F1) March 11, 2025
What this has ensured is that Piastri’s financial fortunes have drastically changed. The report suggests that this puts him on par, at least financially, with his teammate, Lando Norris — with a sum of $26 million as salary each season.
Piastri was earning a paltry sum of $6 million through his earlier contract. But with this extension, the Australian racing ace will receive a salary that is comparable to some of the highest-paid drivers. Only the likes of Max Verstappen, Lewis Hamilton, and Charles Leclerc will earn more.
What has changed in Piastri’s latest McLaren contract?
While the minute details of Piastri’s contract will always be kept confidential, the staggering pay package does shed light on some of the changes we can expect for the #81 driver going into the 2025 season.
This pay rise is a clear indication of the Australian’s stock rising within the team. His manager, Mark Webber, will have also asked for greater autonomy for Piastri when compared to Norris.
Naturally, the concept of ‘Papaya Rules’ will also transform under this latest deal. The 23-year-old has shown that he can fight toe-to-toe with the #4 driver and going into this season he will now expect to fight on equal terms with him — on track and also in terms of upgrades.
With the season-opening Australian GP this week, Piastri has already signaled his championship intent. “I think I can be [the champion],” he claimed.
