F1 Rumour: Ferrari Offers Charles Leclerc Huge Contract Extension

It has been reported that Charles Leclerc is on the edge of signing a huge contract extension with Ferrari.

Charles Leclerc is reportedly due to sign a lucrative five-year extension with Ferrari. This deal, potentially reaching a €50 million salary, marks a major commitment from Ferrari to Leclerc whose current contract is due to expire at the end of 2024.

Key Takeaways:

• According to La Gazzetta dello Sport, Ferrari and Charles Leclerc have agreed on a five-year contract extension. This agreement includes a starting salary of €25 million, doubling to €50 million in the final year, reflecting Ferrari's confidence in Leclerc's abilities and future potential.
• Ferrari experienced a disappointing 2023 season, missing out on the anticipated title challenge. They lost the second spot in the championship to Mercedes at the Abu Dhabi Grand Prix.

Charles Leclerc is reportedly poised to sign a five-year extension with the Maranello-based squad. This new contract, as reported by La Gazzetta dello Sport, not only represents a significant salary increase for Leclerc but also underscores the confidence Ferrari has in him as a key player in their quest for championship success.

Leclerc's new contract terms are particularly noteworthy, with a substantial salary boost. Slated to start at an impressive €25 million, his annual salary is set to double to €50 million by the end of the contract term. 

Despite high expectations, Ferrari failed to mount a serious challenge for the title in 2023, ultimately losing the runner-up position to Mercedes in the season finale at Abu Dhabi. This underwhelming performance has likely influenced Ferrari's strategy and decisions regarding their driver lineup, as they aim to return to the forefront of Formula 1 competition.

Leclerc has rapidly established himself as a top-tier driver since his debut in 2018 with Sauber. Joining Ferrari in 2019, he immediately impressed, claiming two victories in Belgium and Italy and multiple pole positions. Despite Ferrari's performance fluctuations, Leclerc has remained adamant that he is loyal to the team and is motivated to go on to win championships with Ferrari.