Charles Leclerc’s Ferrari Contract: €50 Million in 2029, Exit Clauses Tied to Performance

Ferrari’s Charles Leclerc has reportedly signed a new multi-year contract with the team, and while the exact length was not disclosed in the official announcement, Italian media outlet Gazzetta dello Sport has revealed that the deal spans the next five years. Leclerc is set to earn €50 million in the final year of his contract in 2029, with the potential for his earnings to double if he remains until that point.

The contract is said to include exit clauses tied to performance, allowing Leclerc to consider leaving at the end of 2026 if certain targets are not met. These clauses have become common in Formula 1 contracts, providing drivers with flexibility based on team performance. Max Verstappen’s previous contract with Red Bull, for instance, allowed him to depart if the team fell below third place in the championship.

Leclerc, associated with Ferrari since 2016, progressed to a race seat with the team in 2019 and has achieved five victories in his five years with the team. Ferrari faced challenges in the 2023 season, with Red Bull dominating, winning 21 of the 22 races. The team is working on a revamped car concept for 2024, and Leclerc remains optimistic about Ferrari’s chances of competing for the championship.

Ferrari aims to deliver a winning car for Leclerc, and team boss Frederic Vasseur emphasized Leclerc’s determination and commitment as crucial elements that can make a difference in achieving the team’s goals. Leclerc’s dream is to win the World Championship with Ferrari.

Meanwhile, Leclerc’s teammate, Carlos Sainz, has a contract set to expire at the end of this year, and there have been reports of stalled renewal talks. The team is focused on providing Leclerc with a competitive car and achieving success in the upcoming seasons.