Ferrari has confirmed that Charles Leclerc will remain with the Italian F1 team for the foreseeable future, though the announcement offered little in the way of specifics.
The contract length was not disclosed, and the financial details — as is customary in the championship — remain a matter of educated guesswork.
Yet one conclusion is difficult to avoid: Ferrari was already leading the field in driver wage expenditure, and the renewal of Leclerc’s contract appears set to push that total into previously uncharted territory.
Lewis Hamilton’s arrival at Maranello last season came with an estimated salary of around 60 million euros.
Leclerc, by contrast, had been earning an estimated 34 million euros, a figure that, whilst substantial, left a notable gap between the two Ferrari drivers.
A contract extension of this nature almost always brings with it a significant pay rise, and estimates suggest Leclerc’s new deal could be worth as much as 50 million euros per year.
Should that figure prove accurate, it would make Ferrari the first team in Formula 1 history to exceed 100 million euros in combined driver salaries, a remarkable milestone in a sport where the financial arms race shows little sign of abating.
For context, Red Bull currently occupies second place on that — admittedly — unofficial leaderboard, with a combined driver salary bill of approximately 75 million euros; and the overwhelming majority of that figure, around 70 million euros, is attributed to Max Verstappen alone.
