According to reports from the Italian ‘La Gazzetta dello Sport’, Charles Leclerc has reached an agreement with Ferrari to sign a five-year contract until the end of the 2029 F1 season. Leclerc would also receive a serious pay increase.
The current contract of Charles Leclerc and Carlos Sainz at Ferrari runs until the end of 2024. However, Ferrari chairman John Elkann recently indicated that both drivers will remain with Ferrari.
Leclerc owes his F1 debut to Ferrari, which let him complete his first season in Formula 1 via Sauber, after which he was immediately allowed to switch to Ferrari, while Carlos Sainz came over from Toro Rosso to Ferrari. Ferrari would especially like to keep Charles Leclerc away from the competition with a contract extension and a significant pay increase.
Charles Leclerc would receive a serious salary increase at Ferrari, initially earning 25 million euros per year, an amount that would increase during the term of the contract to 50 million euros for the final year. However, the contract would also contain so-called ‘performance clauses’ that would allow Leclerc to leave Ferrari after three seasons, i.e. after the 2027 F1 season, if performance disappoints.
According to ‘La Gazzetta dello Sport’, an official announcement of the contract extension is imminent.