Charles Leclerc: This is the Formula 1 driver's salary as he renews his contract with Ferrari

The Formula 1 driver extended his contract with Ferrari at the start of the year, with a substantial pay rise to boot. Charles Leclerc is set to earn an 8-figure salary.

Charles Leclerc Formula 1 driver salary Ferrari Grand Prix
© Michael Potts / Getty Images
Charles Leclerc Formula 1 driver salary Ferrari Grand Prix

The good news was announced before the start of the current season on January 25. Charles Leclerc is extending his adventure with Ferrari. He said:

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This team is my second family ever since I joined the Ferrari Driver Academy in 2016 and we have achieved a lot together, fighting through thick and thin over the past five years. However, I believe the best is yet to come and I can’t wait for this season to start, to make further progress and be competitive at every race.
My dream remains that of winning the World Championship with Ferrari and I’m sure that in the years ahead, we will enjoy great times together and make our fans happy.

An XXL salary

Indeed, the Monaco-born has covered his tracks for a long time to come. While his previous lease ran until the end of 2024, Il Predestinato has signed for a further 5 seasons. And the details of the deal are juicy. Italian daily La Gazzetta dello Sport has revealed the ins and outs of the deal. Ferrari's leader has reached a financial agreement that is quite staggering.

His salary will rise progressively over the years. In 2025 and 2026, the Prince of the Rock will earn 40 million euros. If he decides to honour his contract and stay with the Scuderia until the end in 2029, he will be paid up to 50 million euros a year. One of the biggest pay packages in the history of the Prancing Horse team.

The young prince has it all planned

What's more, Charles Leclerc, 26, has chosen to plan ahead. As his performances have been more erratic in recent months, Il Principino has secured an interesting written agreement with the Scuderia. The first two years of his lease are firm. He is therefore guaranteed two seasons at €40m per year. As for the rest of the term, it all depends on his results in the Grand Prix, but also on the work of his team.

If, in 2027, the driver isn't happy with his single-seater's performance, he may decide to leave Ferrari. Especially as he is likely to have even more competition next season. The signing of Lewis Hamilton has reshuffled the deck at the Italian team. It's not certain that the Monegasque will retain his number-one status, as is the case today with the presence of Carlos Sainz.

An average start to the season

Even if the 39-year-old British driver is more at the end of his career than at the beginning, he could ask for a leading place in the driver duo. It's hard to imagine the Transalpine team not banking on the future, especially after this contract extension, but Charles Leclerc should be careful. The current year will be very important in deciding who to hand the reins to.

Unless, of course, there's no hierarchy between the two. For the moment, the native of the Principality of Monaco has made an encouraging start to the new season. A fourth place, then two podiums (3rd and 2nd), these are his results.

After three races, he is on the drivers' podium with 47 points behind Max Verstappen (RedBull) and 51 units. The man who wanted to fight for the title with the three-time Dutch world champion in 2024 is now putting his money where his mouth is. Even if it's still hard to imagine Mad Max relinquishing his throne this year.

This article has been translated from Gentside FR.

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Sources used:

La Gazzetta dello Sport: Leclerc, l'amore per la Ferrari e la voglia di battere Hamilton alla base del rinnovo

Formula 1: Leclerc signs new Ferrari contract extension 'beyond 2024 season'

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