- Leclerc’s new deal is set to make Ferrari the sport’s biggest spender on driver salaries.
- Hamilton and Leclerc together could cost Ferrari €110 million in the following seasons.
- Leclerc set to overtake Schumacher’s record for Ferrari appearances if he fulfils contract.
No Formula 1 team has ever paid its drivers more than €100 million in a single season. Ferrari is about to change that.
The Scuderia confirmed on Wednesday, June 3, that Charles Leclerc had signed a new contract to remain at the team. However, it did not reveal the length or the financial terms.
According to RacingNews365, Leclerc was earning an estimated €34 million per year before the renewal. Sources close to the situation suggest his new deal could be worth as much as €50 million per season.
Lewis Hamilton, who joined Ferrari ahead of the 2025 season, is reported to earn €60 million annually. If Leclerc’s new salary reaches the figures being cited, the team’s combined driver wage bill could hit €110 million, making Ferrari the first outfit in the sport’s history to cross the €100 million threshold.
Red Bull, currently second on that unofficial leaderboard, spends approximately €75 million on their two drivers, with Max Verstappen alone accounting for around €70 million of that figure.
Leclerc’s loyalty tested by a slow start to 2026
The money is significant, but so is the timing. Ferrari has not had the start to 2026 it wanted. Mercedes has won every race this season bar the Miami Sprint Race, and Ferrari’s SF-26 has struggled with a lack of power and straight-line speed.
Leclerc sits third in the drivers’ standings, 56 points behind championship leader Andrea Kimi Antonelli after five rounds. His best results so far are a third-place finish in Australia and another in Japan.
There had been reports that his previous contract contained exit clauses that could have allowed him to leave at the end of 2026 if Ferrari failed to produce a competitive car. The fact that a renewal has been signed suggests he did not trigger them.
Leclerc has been part of the Ferrari Driver Academy since 2016, and his attachment to the team goes well beyond professional calculation.
“I couldn’t be happier to continue this journey with Scuderia Ferrari HP,” he said in a statement. “It has always been so much more than just a team to me. It’s the team I’ve loved and dreamt of being part of since I was a child, and after all these years, it has become a second family.”
Vasseur explains the Scuderia’s thinking
Fred Vasseur, Ferrari’s team principal, has known Leclerc since their time together at Sauber in 2018. That was Leclerc’s debut season in Formula 1.
Since then, Vasseur has watched him accumulate eight wins, 27 pole positions and 52 podiums for Ferrari. For the Frenchman, the renewal was not a difficult call.
“Charles has been part of the Ferrari family for many years now, and this renewal feels like something very natural for us,” he told the media.
“Over these seasons, we have seen him grow to become not only one of the strongest drivers in Formula 1, but also a person who is completely at one with the team and everything Ferrari represents.”
Vasseur’s words carry more weight because they come at a moment when the car has not delivered. Signing Leclerc to a long-term deal despite a slow start to the season reflects a genuine belief in him, not simply a reaction to results.
Hamilton’s situation adds another layer to the picture. His contract length has never been officially confirmed, but at the recent Canadian Grand Prix, the seven-time champion said he is committed to Ferrari at least through the end of 2027.
“I’m still in contract, so everything is 100% clear to me,” Hamilton said. “I still love what I do with all my heart, and I’m going to be here for quite some time, so get used to it.”
With both drivers now locked in, Ferrari has removed any uncertainty from its driver lineup for the foreseeable future. That stability costs money. It also sends a message.
A long-term commitment that could rewrite Ferrari’s history books
The contract Leclerc has signed stretches well beyond the current moment. He was already contracted until 2029, and Ferrari has now extended beyond that, meaning he is likely to remain at Maranello into the 2030s. That would make his deal the longest active driver contract in the sport.
Leclerc won the Formula 2 title in 2017, made his Formula 1 debut with Sauber in 2018 and moved to Ferrari in 2019. He now ranks second only to Michael Schumacher in grand prix appearances for the team. If he sees out his new contract, he will surpass that record.
The financial commitment Ferrari has made is without precedent in this sport. Whether the SF-26, or whatever car follows it, can finally deliver Leclerc the world championship he has chased throughout his career at Maranello is a question that remains unanswered.
But Ferrari has made one thing clear: it intends to find out with Leclerc in the seat.
