Charles Leclerc’s new contract reportedly comes with a bumper pay rise, with him set to be on $30 million per season.
The report comes from Corriere della Sera, who have also revealed the duration of the deal.
Leclerc’s new contract was announced last week by Ferrari as being a ‘long-term’ deal, which reportedly covers five seasons.
According to the Italian publication, Leclerc’s new deal will start this year instead of in 2025, despite the fact his previous contract didn’t expire until the conclusion of 2024.
On his previous deal, Leclerc earned a base salary of $24 million, meaning he’s going to be earning $6 million per year more going forwards.
Supposedly, the deal will expire at the end of 2028, which is when Max Verstappen’s long-term contract is also set to expire.
However, the Monegasque driver is believed to have a clause in his new deal which would allow him to leave Ferrari at the end of 2026, if he isn’t delivered a competitive package up to his standards.
It means that the 26-year-old will enter the new power unit regulations with the Maranello-based side but that he could jump ship if they get the new regs horribly wrong.
Should he see out the entire five-year deal, then Leclerc will likely be on a base salary of almost $50 million come 2028.
Being given a five-year contract extension shows just how much belief and faith Ferrari have in Leclerc, who is viewed as the side’s golden child.
Leclerc failed to win a race last season but did pick up six podiums, which helped him claim fifth in the Drivers’ Championship.
Ferrari did win a race in 2023 though, courtesy of Carlos Sainz.
Sainz won the Singapore Grand Prix and was the only non-Red Bull victor last season; however, that doesn’t appear to be enough for a deal on his terms.
The Spaniard is out of contract at the end of the year and is believed to want a two-year extension, taking him to the end of 2026.
It’s reported that Ferrari aren’t in favour of this and are only wanting to give him a deal for 2025.
Time is quickly running out for a deal to be completed ahead of the season getting underway next month.