P1racenews AI automatic summary:
Ferrari President John Elkann is said to have offered Lewis Hamilton a joint investment fund via his Exor family business
The friendship between Elkann and Hamilton played a crucial role in Ferrari’s successful bid to sign the Mercedes driver to a multi-year contract starting in 2025. This surprising news broke on Thursday and shocked everyone in the sport. Besides the appeal of driving for Ferrari and the chance to win an eighth world title, a significant investment in Hamilton’s projects and a joint venture worth €250 million further encouraged his decision. Additionally, Elkann offered Hamilton an ambassador role for his own brand. Hamilton’s initiatives, such as Mission 44, which focuses on fostering an inclusive education system and promoting careers in STEM, motorsport, and the creative industries, played a significant part in his negotiations. While Hamilton had initially expressed his desire to end his career with Mercedes, a sticking point in the negotiations was the lack of an ambassadorial role, which Ferrari was willing to offer. At 40 years old, this multi-year contract with Ferrari could very well be Hamilton’s last in F1, making any non-racing terms even more significant in comparison to his younger rivals’ deals.
