Why Ferrari’s $40 Million Splurge On Lewis Hamilton Is Not The Same as Signing Michael Schumacher in 1996

Rumors suggest Ferrari is setting up a $40 Million bid for Lewis Hamilton. The Italian team is desperate to create a dream team of the 7-time world champion and Charles Leclerc in a bid to win their first title in 15 years. However, The Race’s Edd Straw doesn’t think it’s a good idea and isn’t going to revolutionize Ferrari from within as Michael Schumacher did.

Ferrari signing Hamilton carries the same aura as when the Scuderia signed Michael Schumacher in 1996. On both occasions, the Scuderia lured in a world champion to end their dry spell.

However, signing the 38-year-old Briton differs from when they brought Schumi. And it would be a great mistake by Ferrari if they accept the gamble.

Why singing Lewis Hamilton will be a big mistake for Ferrari?

Ferrari won their last constructor’s trophy in 2009 and their last driver’s championship in 2007 with Kimi Raikkonen. The Italian team is reportedly interested in Lewis Hamilton to end their embarrassing draught of titles.

When the team signed Michael Schumacher in 1996 for a $60 Million contract, they were in a similar winless phase. The German helped the team secure their first title since 1983 by winning 1999’s constructors titles. He would secure 5 straight drivers championships for Ferrari in the coming seasons.

However, Straw doesn’t think Hamilton’s arrival would be as revolutionary as he states: “A 38-year-old, it’s hardly the same as using a 27-year-old Michael Schumacher as the foundation stone on which to build the next decade of the Scuderia, as it did from 1996. Perhaps that equation would be different five or more years ago, but not today.”

Straw asserts the 7x champion will bring vast amounts of winning experience and brand value to Maranello. But bringing him in will disturb the harmony within the team.

They also do not have talents like Jean Todt, Ross Brawn, or Rory Bryne, from whom Schumacher benefitted. There could also be conflicts with Charles Leclerc for the number 1 driver’s role.

Toto Wolff dismisses Hamilton-Ferrari links

A major reason for rumors to develop is that Lewis Hamilton is yet to sign an extension with Mercedes. The Briton’s contract with the silver arrows expires at the end of the season.

Reports suggest that the Briton is reluctant to sign a new deal with his team unless they produce a competitive car. He wants to win his 8th title while Mercedes struggles to get past the midfield.

However, Toto Wolff has dismissed the stories surrounding the Briton’s move to Ferrari. He told the Österreich, “These rumours come up every two years when we have to sign a new contract. But none of this is true. We discuss normally, without any time pressure.”

 

This Hamilton Ferrari thing is doing the rounds, but my opinion from a few months ago still stands.

Although I retract “Ferrari is the second fastest team.”

Feck it, here’s the full video. pic.twitter.com/S7qaLqaXyW

— Jason Hassett (@Jayhassett) May 23, 2023

Wolff revealed that, at the moment, the two parties are yet to finalize the 7x champion’s salary. However, the Austrian claims the deal will be finalized and confirmed soon.

He also believes that Hamilton can win titles despite being 38 years old.  He added, “If we give Lewis a competitive car, he will win for a long time. Look at Tom Brady and what he was still capable of in his 40s.”

The Mercedes driver has also stated that he wishes to retire from his current team. It is also difficult to see Ferrari pursuing the driver while they have two fine, young drivers, Charles Leclerc and Carlos Sainz.