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Hamilton Ferrari Future Deal 410 Million Euro Deal
(Getty Images/F1Lead)

Hamilton and Ferrari Nearing 410 Million Euro Deal?

03/02/2024

Lewis Hamilton’s discussions with Ferrari hint at a monumental contract before the season, marking a pivotal moment for both the driver and the iconic racing team.

This early year sensation involves ongoing discussions between Lewis Hamilton and Ferrari, with a potential signature before the season starts. The Scuderia and the English driver are about to conclude a deal, in the form of a future contract for the seven-time world champion. Hamilton extended his contract with Mercedes last August for 2024, with an option for 2025, for a salary of 60 million euros (excluding bonuses). This contract was seen as one of the last for Lewis Hamilton. However, the Scuderia’s offer includes a significant deal with John Elkann‘s Exor group.

A telling detail: on the afternoon of the announcement, Ferrari’s stock price increased by 6%, an increase in value of 4 billion euros. This is the Lewis Hamilton effect on financial markets. Throughout this February 1st day, the Italian press on one side, faces off against the English press on the other. The battle to have the information exclusively is fascinating to watch.

Hamilton’s Rejected Mercedes Deal Evolves

It was the disappointment of Hamilton’s current contract with Mercedes. Yet, the debate was long within the board of the German manufacturer, but the quality of ambassadorship until 2035, proposed by the seven-time world champion, was rejected. This rejection resonated with John Elkann, who, in turn, proposes to develop Lewis Hamilton’s empire. An agreement that could reach 400 million euros.

Ferrari’s boss’s first proposal spanned two seasons and 92 million euros (46 million euros per season). That was at the beginning of 2023. Hamilton politely declined, stating he did not want just a driver’s contract but several agreements to secure the future of his foundation, Mission 44.

The current deal would be 80 million euros for 2025, plus an option for 2026. About 20 million euros of this amount would be delivered in the form of bonuses for the driver’s foundation.

The other part of the agreement with Ferrari concerns the future. John Elkann proposes to create a joint investment fund endowed with about 250 million euros, through the family business Exor, to invest in Lewis Hamilton’s projects and turn him into an ambassador for his own brand.

More on Today’s News about Hamilton’s Move to Ferrari

Hamilton Ferrari Future Deal Hit 80M Annually. Hamilton Ferrari Future Deal Hit 80M Annually

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