P1racenews AI automatic summary:
Charles Leclerc is reportedly set to put pen to paper on a new five-year F1 contract extension with Ferrari.
According to La Gazzetta dello Sport, 26-year-old Charles Leclerc is set to sign a new contract with Ferrari that includes a significant pay rise, potentially reaching €50m per season. Currently earning around €25m per season, the new deal would see his salary increase incrementally each year. This would put Leclerc on par with Max Verstappen in terms of financial compensation. The contract is expected to be announced soon and will likely include performance-based exit clauses, allowing Leclerc to leave Ferrari after three years if the team is not competitive. Ferrari is eager to secure Leclerc’s long-term commitment and fend off interest from rival teams like Mercedes.
