(Photo : Dan Mullan/Getty Images) BUDAPEST, HUNGARY – Charles Leclerc of Monaco driving the (16) Ferrari SF-23 prepares to drive within the storage previous to ultimate follow forward of the F1 Grand Prix of Hungary at Hungaroring on July 22, 2023 in Budapest, Hungary.
Scuderia Ferrari driver Charles Leclerc lately reached a multi-year extension to proceed racing for the Prancing Horse group.
The announcement was made on the finish of final month, on Thursday, January 25. However, the group didn’t disclose further particulars, such because the size and worth of the deal.
Leclerc’s earlier contract was set to conclude on the finish of the 2024 Formula 1 season, incomes him $19 million in 2023. This determine included a $14 million base wage and $5 million in bonuses, making him the fifth-highest paid driver on the grid, based on Forbes.
Details of Charles Leclerc’s new Ferrari contract
Just a few days following the preliminary announcement, particulars about Charles Leclerc’s contract extension with Scuderia Ferrari began to floor by means of the Italian publication Corriere della Sera.
Leclerc’s new contract with Ferrari is reportedly set to final till the conclusion of the 2028 Formula 1 season.
This dedication ensures that the Monégasque could have the chance to spend not less than 5 extra seasons behind the wheel of the enduring automotive adorned within the group’s distinctive crimson livery, offered all goes properly by way of efficiency for each the car and driver.
By the conclusion of the brand new settlement, Leclerc would have raced for Ferrari for a complete of 10 seasons, beginning in 2019.
Charles Leclerc’s new Ferrari contract worth
As a part of the brand new settlement, Leclerc’s annual earnings are mentioned to see a rise, reaching $30 million per season.
While it stays unclear if his earnings for 2024 will even obtain a lift, the reported span of the brand new deal, overlaying the years from 2025 as much as 2028, means that Leclerc is projected to earn $120 million in base wage, excluding incentives from the pact.
Additionally, the 26-year-old driver has the potential to extend his revenue by means of efficiency bonuses, with the chance to earn as much as an extra $5 million for accomplishments reminiscent of race victories and championships.
He may very well be the third-best-paid driver on the grid with that quantity, trailing solely reigning world champion Max Verstappen of Red Bull Racing, in addition to his future Ferrari teammate and present Mercedes driver Lewis Hamilton.
Charles Leclerc’s new Ferrari contract clause
Leclerc’s contract features a essential break clause that turns into efficient annually after the 2026 season, aligning with a significant overhaul in Formula 1 rules.
This clause grants Leclerc the choice to doubtlessly half methods with Ferrari if the group doesn’t present a aggressive automotive able to contending for the championship.
This provision introduces a component of flexibility, enabling Leclerc to reassess his place primarily based on the group’s competitiveness within the aftermath of great regulatory modifications in Formula 1 throughout that yr.
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