According to a media report, Charles Leclerc has signed a new five-year contract with Ferrari that ties him to the “Scuderia” until the end of the 2029 Formula 1 season. The extension comes despite a mixed sporting season and although Leclerc’s contract would not expire until 2024, wrote the Italian “Gazetta dello Sport”.
Online since today, 12:02 p.m
With the signing, the Monegasque will receive a salary increase to over $27 million per year. In the last year of the contract, Leclerc will receive $54 million. The agreement also contains performance-related exit clauses that could allow the driver to negotiate an exit after 2027 if he is not satisfied with the Italians’ performance in Formula 1.
The 26-year-old Leclerc completed his fifth season with Ferrari this year and finished fifth in the drivers’ championship with 206 points. This put him six points ahead of his teammate Carlos Sainz, who came in seventh. Ferrari finished third in the constructors’ championship, just three points behind Mercedes and 104 points ahead of McLaren.
Sainz is still negotiating
Sainz’s contract also expires after next season. According to “Gazetta dello Sport”, the Spaniard is negotiating a two-year contract extension with Ferrari. Sainz won the Singapore Grand Prix this year, making him the only race winner alongside the Red Bull duo Max Verstappen (19 wins) and Sergio Perez (two).