P1racenews AI automatic summary:
Charles Leclerc put his signature on a brand new Ferrari contract this week, which ties him to the Formula 1 team at least through 2026. Not only did this add a few extra years to his stay at the Scuderia, but it also puts him in good financial shape.
Charles Leclerc’s new Formula 1 contract with Ferrari is described as a “long-term” deal, with the specific length not publicly disclosed. However, it is believed that the contract includes a break clause allowing Leclerc to leave the team after 2026 if they fail to provide him with a competitive car. Unless he activates this clause, Leclerc will be locked into Ferrari until 2028, effectively extending his previous contract by four years. His base salary for the current year will be just over $30 million, an increase from the previous $24 million, with potential bonuses for race wins and championships. Leclerc’s remuneration is set to rise incrementally, potentially reaching $50 million per year by 2028. Talks regarding a contract renewal for his teammate Carlos Sainz are ongoing, but no news has been reported.
