Charles Leclerc’s New $30 Million per Year Contract Includes Exit Clause

According to the Italian publication Corriere della Sera, details about Charles Leclerc’s contract with Scuderia Ferrari have been disclosed. In his new contract, Leclerc has committed to a four-year extension with the Prancing Horse, keeping him with the team until 2028. His previous agreement was set to expire after the 2024 season. In terms of the contract’s financials, Charles Leclerc will now earn $30 million a year. Compared to his prior earnings of $25 million, this represents an increase of $5 million.

The deal also includes an extra $5 million in bonuses, which are linked to specific achievements like world titles and race victories. However, in the scenario where the Monegasque driver remains with the team until 2028, this amount will reach $50 million annually. Moreover, according to another aspect of the new contract, it allows Leclerc to leave the team after the 2026 season if Ferrari fails to provide him with a competitive car.

To return the team to its past glory, Charles Leclerc has been racing with the Ferrari since 2019. Despite his efforts, he has secured victories in only five Grand Prix races so far.

However, in 2022, the Monegasque driver did find himself in a championship-winning position. Unfortunately, due to the team’s reliability issues, strategic errors, and the drivers’ faults, the 26-year-old fell short of clinching the championship.

Despite facing various setbacks, the partnership between Charles Leclerc and Ferrari seems poised to extend over several more years. In fact, Leclerc has even expressed his happiness, saying he’s pleased to continue wearing the Scuderia Ferrari uniform for many more seasons.

While Leclerc consistently enjoys priority treatment from Ferrari, his teammate Carlos Sainz is still in the midst of contract negotiations without any official confirmation.

Will Ferrari secure a deal with Carlos Sainz following Charles Leclerc’s contract confirmation?

Although Ferrari has successfully secured a four-year extension for Charles Leclerc’s contract, there has been no practical effort made to extend Sainz’s contract. Similar to Leclerc’s deal, Sainz’s contract is also set to expire in the 2024 season. Fans are questioning why Ferrari hasn’t moved to extend Sainz’s deal, especially given Leclerc’s contract renewal.

The answer lies in Sainz’s stated preference. According to the Spanish driver he wishes to sign a multi-year deal with Ferrari. However, according to Gazzetta, Ferrari is hesitant to provide a contract longer than a year, since they would prefer to look at the driver market again the next year.

This choice is influenced by the anticipation that a few notable stars will become available when their contracts expire in 2024. As a consequence, Sainz is once again dealing with the familiar bias from Ferrari that he has encountered since joining the team in 2021.

On a contrasting note, reports are suggesting that the German automaker Audi is expressing an interest in Carlos Sainz. Due to his father’s strong connections with Audi, Sainz is considered a top priority for the company, which is gearing up to join Formula 1 in 2026.

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