Charles Leclerc Signs New Ferrari Deal Into the 2030s

What Is Charles Leclerc’s New Ferrari Contract?

Leclerc and His Girlfriend in Miami. Credit: gpblog.com

Ferrari confirmed that Charles Leclerc has extended his deal to keep him at Maranello “for the coming seasons.” No specific end date was given and no financial terms were disclosed.

Leclerc’s previous contract ran to the end of 2026. The new agreement is reported to run through 2028, with options covering 2029 and 2030 that could take him into the 2030s.

His previous deal, signed in January 2024, was reported by Corriere della Sera at around €35m per year including bonuses. Our estimate puts his 2026 base at $34m, with potential on-track earnings of $46m once bonuses are included. The new contract is widely expected to carry a significant pay rise, with reports putting his new salary at around €40m ($45.6m) a year from 2027.

Once bonuses are added, Ferrari could become the first team in F1 history to spend more than €100m a year on its drivers. Lewis Hamilton is estimated to earn a $60m base at Ferrari. Red Bull currently sits second on the combined driver wage leaderboard at around $77.5m, the vast majority of that belonging to Max Verstappen alone. Ferrari’s $7.1bn valuation and $670m-725m in annual revenue means they can absorb a driver wage bill that would be unthinkable elsewhere.

F1 Contracts Don’t Always Mean What They Say

Before reading too much into the paperwork, it’s worth remembering how F1 contracts actually work in practice.

The sport has a Contract Recognition Board and a formal process for disputes, but when both parties want something to happen, the contract becomes a starting point for a negotiation rather than a final word. Leclerc himself had a reported exit clause in his 2024 deal allowing him to leave at the end of 2026 if Ferrari hadn’t given him a title-contending car, and that clause gave him real bargaining power.

The most vivid recent example is Oscar Piastri in 2022. Alpine announced via press release that he would race for them in 2023. Piastri went on social media the same afternoon and said the announcement was wrong and he wouldn’t be driving for Alpine. McLaren had already signed him on July 4, 2022. The FIA’s Contract Recognition Board sided with McLaren. Alpine, despite having invested years and significant money in his development through their academy, ended up with nothing and scrambled to replace him.

The broader lesson holds. A long contract with the right clauses or the right legal maneuvering can be unwound. What this new Leclerc deal signals, more than anything, is that neither party wants out.

Why Does Leclerc Keep Extending His Ferrari Contract?

Charles Leclerc Walking on the Race Track. Credit: firstclasse.com

The easy read is loyalty. The more honest one is that the alternatives were never as compelling as they looked. Several factors make staying the obvious call.

1. The Magnitude of Ferrari’s Commercial Weight

The team is valued at $7.1bn, generates $670m-725m in annual revenue, and carries a brand recognition that no other team can match. Leclerc’s personal sponsorship portfolio, estimated at around $12m annually through deals with Richard Mille, Puma, Ray-Ban, Bang & Olufsen and Shell, is built substantially on the Ferrari platform. Leave the team, and that commercial ecosystem gets complicated fast.

2. His Connection with Fred Vasseur

Frédéric Vasseur ran ART, the team Leclerc won the 2016 GP3 title with, and was his team principal at Sauber in 2018, so their working relationship goes back almost a decade. Vasseur described the renewal as “very natural,” and that’s genuinely credible given the history. It’s a dynamic that doesn’t exist anywhere else on the grid.

3. The Other Top Teams Aren’t Open

Mercedes has Kimi Antonelli and George Russell locked down. McLaren has Lando Norris and Oscar Piastri, two of the most settled partnerships in the paddock. There’s no obvious front-running seat available.

4. Red Bull Isn’t a Step Forward Anymore

Red Bull has been drifting. It’s no longer the dominant force that would justify leaving a team like Ferrari. Aston Martin, similarly, would represent a significant backwards step.

5. The Regulation Cycle Creates a Long Window

Leclerc said at the end of 2025 that 2026 was “now or never” for Ferrari. He went winless in 2025, finishing fifth with 242 points, 181 behind title winner Lando Norris. But with new regulations in place, the competitive order can shift significantly over several seasons. He’s betting on Ferrari finding that performance, and the contract reflects it.

Will Charles Leclerc Ever Leave Ferrari?

Ferrari F1 Car in the Garage. Credit: reuters.com

After this deal, probably not during his prime years.

If both options are taken up, the contract runs to the end of 2030, when he’ll be 33. By that point, he’ll either have won a championship with Ferrari or the entire conversation will have changed. The window where he could have left for a genuine upgrade elsewhere has passed without being used.

He’s also now building all-time Ferrari records that add another layer of weight to the relationship. He ranks second only to Michael Schumacher for Ferrari pole positions. At Monaco this weekend he’ll reach 156 starts and is now on course to surpass Schumacher’s record of 180 Ferrari appearances. These aren’t the numbers of a driver with an arm’s length relationship to the team.

What Does the New Deal Mean for Lewis Hamilton?

Lewis Hamilton is understood to be contracted at Ferrari through at least 2027. Our estimate puts his base at $60m, well ahead of Leclerc’s current figure before any new deal terms are factored in. That gap reflects Hamilton’s global commercial power and seven world championships rather than any sporting hierarchy inside the team.

With Leclerc now locked in through 2028, the internal dynamic is settled. Ferrari has two lead drivers, a combined wage bill that may now exceed €100m, and no ambiguity about who’s staying. The pressure on Hamilton is purely about what he delivers on track in 2026. Whether he extends beyond 2027 will depend on that.

What Does It Mean for Oliver Bearman?

Oliver Bearman in the Ferrari Garage. Credit: autosportinternational.com

Oliver Bearman is the obvious name when discussing Ferrari’s long-term future beyond the current lineup. He debuted for Ferrari in Jeddah in 2024 stepping in for Carlos Sainz, scored points on that first appearance, and has been building a consistent reputation at Haas since.

Haas holds an option on him for 2027, with Ferrari holding recall options in his arrangement. A move to Maranello in 2028 is the scenario most commonly discussed, and the Leclerc extension doesn’t change that much because the seat Bearman would realistically target is Hamilton’s, not Leclerc’s.

The Piastri precedent is worth bearing in mind here too. Guenther Steiner has said publicly that if Ferrari doesn’t give Bearman a seat by a certain point, he’ll be free to go wherever he wants. Ferrari invested heavily in his development through their academy, just as Alpine did with Piastri. They’ll be very aware of what happened when Alpine delayed too long.

FAQs

How long is Charles Leclerc’s new Ferrari contract?

Ferrari hasn’t confirmed a specific end date, but the deal is reported to run through 2028, with options covering 2029 and 2030. His previous contract ran to the end of 2026, so the new agreement takes over from 2027.

How much will Charles Leclerc earn under his new contract?

Ferrari hasn’t disclosed the financial terms. His previous deal was reported at around €35m a year. Reports put his new salary at around €40m a year from 2027, which alongside Lewis Hamilton’s $60m base would make Ferrari’s line-up the most expensive in F1.

Why did Leclerc extend rather than test the market?

No alternative offered a clear upgrade. Mercedes and McLaren both have strong, settled lineups. Red Bull has lost ground under the new rules. Ferrari’s brand, commercial scale, and Leclerc’s deep relationship with team principal Fred Vasseur made staying the obvious call. Leaving for a lateral move was never going to be straightforward.

Does the contract actually guarantee Leclerc stays?

F1 contracts are binding but not always absolute. Leclerc’s previous deal reportedly included an exit clause for 2026. Oscar Piastri was Alpine’s contracted reserve driver before walking straight to McLaren in 2022. What this extension signals is that Leclerc wants to stay, which means more than any piece of paper.