Breaking: Charles Leclerc signs new Ferrari contract worth $204 million

Charles Leclerc met with Mercedes and Aston Martin prior to signing the eye-watering new deal with Ferrari.

Charles Leclerc has reportedly pledged his future to Ferrari until at least the conclusion of the 2026 season, with an option for a further extension until 2029.

This new contract will see him earn approximately $204 million over the duration of the contract.

The topic of Leclerc’s future has been widely debated, with speculation over whether the 25-year-old might choose to leave his cherished Ferrari to enhance his chances of securing a world title.

However, from Leclerc’s comments, it is apparent that his ambition is to win the Championship wearing Ferrari’s red, and reports indicate that he has dedicated his future to achieving this goal.

Want to work in Formula 1? Browse the latest F1 job vacancies

The French publication Sportune has reported that Leclerc has consented to a two-year extension on his current contract, although it should be noted that this is the same outlet that inaccurately reported details of Lewis Hamilton’s contract earlier this year, a claim subsequently refuted by Mercedes.

If Sportune’s reporting is accurate, Leclerc has entered into a deal that will see him remain with Ferrari until the conclusion of the first season under the new power unit regulations, with an option to extend by an additional three years to 2029.

The renewed agreement would uphold Leclerc’s status as one of the best-compensated drivers in the sport, with suggestions that the total contract is valued at over £160 million, potentially reaching £43 million in compensation during the final year.

The duration of the contract would also make it the longest on the grid, surpassing Max Verstappen’s current agreement with Red Bull, which runs until the end of 2028.

Article continues below

This comes amid Leclerc having a torrid season with Ferrari in 2023, as the Scuderia have dropped down the pecking order.

READ: Christian Horner on Daniel Ricciardo joining Red Bull in 2023 or 2024

Ferrari’s boss, Fred Vasseur, reportedly met with the representatives of both Leclerc and Carlos Sainz in late June, with discussions progressing more swiftly with Leclerc.

A further claim from Sportune asserts that Leclerc’s manager, Nicolas Todt (son of former Ferrari and FIA boss Jean Todt), has been in dialogue with numerous other teams within the paddock.

Leclerc’s team is said to have met with Mercedes, Aston Martin, Alpine, and even Red Bull, with the German manufacturer considered the most likely alternative should Leclerc choose to move.