Lewis Hamilton is set to earn $100 million annually at Ferrari, marking a significant milestone in the union of the legendary driver with the iconic Formula 1 team.
The confirmation of this historic agreement signifies the realization of years of speculation and unsuccessful attempts, bringing together the most successful driver and team in the sport.
The timing of the negotiations played a crucial role, with concrete discussions swiftly closing within a few days. Ferrari’s President, John Elkann, has long been an admirer of Lewis Hamilton, fostering a relationship based on friendship and mutual respect. The Ferrari president’s strong desire to bring the World Champion to Italy became the driving force behind the deal.
Following disagreements and the departure of Mattia Binotto at the end of 2022, John Elkann shaped a new vision for the Maranello team, appointing Frederic Vasseur as Team Principal. This strategic move, initially perceived as a stopgap, evolved into a long-term plan, with Charles Leclerc playing a pivotal role, evident in his multi-year contract renewal.
The addition of Lewis Hamilton to Maranello is not merely about his racing prowess and commercial value; it extends to his embodiment of values such as diversity and inclusion, which Ferrari has actively championed. The deal materialized due to Hamilton’s willingness, coupled with the flexibility provided by his latest renewal structure – a two-year deal with a one-year term plus an option for the second.
Toto Wolff’s preference for a ‘short’ renewal with Mercedes for 2026 created an opportune moment for Lewis Hamilton to make the switch to the Italian side. Technical guarantees, especially concerning the 2026 engine under development in Maranello, further convinced the seven-time Formula 1 world champion to embark on this new chapter.
The pairing of Lewis Hamilton and Charles Leclerc is hailed as a “dream team” for Ferrari, strengthening an already robust lineup. Ferrari’s decision aligns with the vision of Liberty Media, seeking partnerships of this caliber.
The British driver’s incrdible impact transcends Formula 1, and his arrival in Maranello is met with enthusiasm by Charles Leclerc. Far from perceiving it negatively, the Monegasque views Lewis Hamilton’s presence as an exciting challenge for him, one that can help him further improve by learning from one of the best in Formula 1 history, while at the same time being aware that he has the abilities to challenge him.
With Frederic Vasseur continuing to shape Ferrari, the team aims to solidify its position before the 2026 regulations come into play.
As for the technicians’ market, another significant addition from Mercedes, Loic Serra, is expected in Maranello. Both drivers are content with their contracts, and finer details will be ironed out during the 2026 Formula One season. The economic aspects include Charles Leclerc’s contract structured on an upward trajectory, while Lewis Hamilton, encompassing salary, sponsors, image rights, bonuses, and more, will become one of the highest-paid drivers in Ferrari’s history, earning around $100 million annually.