Lewis Hamilton: Ferrari’s $446 Million Gamble?
In 2024 before the Formula 1 Season began, seven-time world champion, Sir Lewis Hamilton would occupy headlines and news bulletins, not evolving around professional endeavours, or nothing to do with Mercedes. No.
The 105-time Grand Prix winner's announcement that he signed a deal with the Scarlet Red team, Ferrari, caused a wave of shock and excitement amongst the Formula 1 community.
How long is Hamilton’s Contract?
Ferrari and Lewis Hamilton have come to an agreement that the former Mercedes driver will join the team on a two-year deal venturing into the new regulations in 2026.
On LinkedIn, Lewis posted a statement on his new venture with Ferrari, "I could not be more excited for the year ahead," stated Hamilton "Moving to Scuderia Ferrari, there's a lot to reflect on.”
His new Team Principal, Fred Vasseur, stated that convincing the seven-time world champion to go to the Maranello-based team was ‘not too difficult’ talking with Sky Sports F1:
“In 2023 we won more races than Mercedes, and the beginning of the season was good also, so that it was not too difficult to convince him that Ferrari would be a good project."
$446 Million? What is inside the Deal?
Upon joining Ferrari, Lewis Hamilton reportedly received a substantial pay package. He is expected to earn just over $87 million in 2025, with an option to extend his contract into 2026.
Approximately 25% of Hamilton's salary will be directed to his charitable foundation, Mission 44, demonstrating the extent to which he is committed to social causes in the world, according to Planet F1.
Moreover, Ferrari's parent company, Exor, a Netherlands holding company has proposed a joint investment fund with Hamilton, valued at over $272 million.
The joint investment was made by John Elkann, who is the Chairman of Ferrari as well as the Chief Executive Officer for Exor. Elkann also sits on the board of directors for the holding company. Allowing the near half-a-billion deal to be made possible.
The agreement provides Hamilton with the opportunity to serve as the ambassador for his portfolio, further expanding his influence beyond the world of motorsport. Being denied by Mercedes previously.
What does Charles Leclerc Have to Say?
The Monegasque driver, now Lewis Hamilton’s team-mate met with the news of Hamilton joining Ferrari in 2025, with excitement and motivation.
Seeing Hamilton's move as one of the most significant in recent years, he is pleased to be part of Ferrari's narrative stating from Goodwood Road and Racing:
“Everybody's proud of being part of that story, and we all want to make that story as successful as possible, and for me, the most beneficial to Ferrari as a whole.”
There is no doubt that Leclerc is driven to become a world champion, and he sees Hamilton's arrival as an opportunity to challenge him and raise his level of performance, going further as to say:
“I'm always trying to be on top of my game, but obviously, with Lewis, it motivates me a lot as well.”
What Can We Expect?
Lewis Hamilton's move to Ferrari marks one of the most pivotal moments in recent Formula 1 history. The seven-time world champion's decision to leave Mercedes and join Ferrari has sparked excitement, curiosity, and high expectations within the racing community.
With a lucrative contract worth $446 million, Hamilton's new venture provides a fresh chapter in his racing career. It underscores his commitment to social causes through significant contributions to his charitable foundation, Mission 44.
As he teams up with Charles Leclerc, Ferrari's 2025 season is set to be an intriguing journey, filled with potential for both drivers and the iconic team.
Hamilton’s ambition, coupled with Ferrari’s rich heritage, could be the catalyst for a new era of dominance for the Scarlet Red team. Fans will undoubtedly be eager to witness how this bold gamble pays off on the grandest stage of them all.