Among the strengths of Scuderia Ferrari are its pair of Formula 1 drivers. On 21 April 2022, Carlos Sainz signed a two-year renewal with the Scuderia, confirming his presence in the Maranello team until the end of the 2024 F1 season. The Spaniard’s new agreement expires at the same time with that of Charles Leclerc who, after next year, will be close to the end of the longest contract ever signed by Ferrari with a driver, for five seasons.
The renewal was signed on 23 December 2019 after the Monegasque’s impressive first season in red, which ended with two victories and an overall better performance than his then his four-time Formula 1 world champion and teammate, Sebastian Vettel.
The duration of the contract that Ferrari signed with Charles Leclerc just over three years ago was very surprising, but in reality in Maranello they anticipated a trend later confirmed by the agreement between Max Verstappen and Red Bull (five years, from 2024 to 2028) and between McLaren and Lando Norris, blocked by the British team until the end of 2025.
The teams don’t want to take risks, they think in advance and in the long term, and for this reason the renewal of Charles Leclerc is one of the items on the agenda in Maranello. The negotiation with a driver of Charles’ caliber always develops on two key points, the financial aspect and the technical guarantees, and this greatly restricts the potential alternatives that could tempt Charles should he decide to evaluate other scenarios.
However, there is a threat (at the moment minimal) that could complicate the Scuderia’s plans, and that is the risk of Lewis Hamilton leaving Formula One at the end of the 2024 season. It is an unlikely eventuality, but a small risk exists.
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If Ferrari confirms its ability to guarantee Charles Leclerc a single-seater capable of allowing him to fight for the world championship, the risk will in fact disappear, as the Monegasque has confirmed on several occasions that he is closely linked to the Scuderia and wants to achieve the highest goals behind the steering wheel of a Maranello car.
The scenario would change quite a bit if Charles Leclerc were to find himself in the technical situation in which he has spent the last three seasons. Charles celebrated his 25th birthday last October, and he definitely has many F1 years ahead of him, but with more than 100 Grands Prix already completed, he’s starting to feel the clock ticking away.
He witnessed the explosion of his contemporary rival Max Verstappen and would not like to be a spectator of the rise of George Russell, another driver of his generation. It’s not a problem of salary, because since Formula 1 entered the budget cap regime, the top teams can afford to pay their drivers very well, as salaries are excluded from cost control.
It is above all a question of technical opportunities. If Mercedes were to prove successful again, it would become very attractive if they find themselves with the need to replace Hamilton.
These are scenarios that seem far away if analyzed ahead of the 2023 Formula 1 season, almost a fantasy driver’s market that can make you smile. It is not so. Red Bull showed this in February last year, extending the contract of Max Verstappen despite the previous agreement (still in force) available until the end of the 2023 season.
Also in this case, the fear that an opportunity would open up in Mercedes prompted the negotiation well in advance, and the Marko-Horner tandem did not want to take any risks.
It will not be surprising if immediately after the start of the 2023 season one of the priorities on Frederic Vasseur‘s agenda will be the renewal of Charles Leclerc. In Maranello they can’t take risks, the key figures must be confirmed with the dual purpose of eliminating potential tensions that could arise and being able to plan for the future in the long term. And Charles Leclerc, in this project, is one of the main figures.
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