The surprising announcement that seven-time world champion Lewis Hamilton shall be leaving Mercedes to affix Ferrari beginning in 2025 has the Formula One neighborhood in a frenzy.
This essential choice not solely indicators the tip of an period for Mercedes, the group the place Hamilton has achieved nearly all of his profession success, but it surely additionally ushers in a brand new period with Ferrari, a group recognized for its ambition and racing legacy.
The specifics of Hamilton’s take care of Ferrari are beginning to come to gentle due to leaks to the media, which additionally spotlight the strategic subtleties and complexity of this vital change.
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Lewis Hamilton’s Ferrari contract details
Hamilton’s switch to Ferrari is supported by a hefty multi-year deal, with newspapers estimating an annual wage of $80 million, with an additional $20 million in bonuses put aside for Hamilton’s humanitarian basis.
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This association illustrates Ferrari’s readiness to spend extensively in Hamilton’s on-track talents. It additionally shows a standard dedication to social obligation away from the monitor.
Hamilton’s contract with Ferrari places him among the many finest earners within the sport, on tempo with present world champion Max Verstappen, with whole remuneration probably surpassing $100 million per yr when sponsorship, picture rights, and different bonuses are included in.
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Mercedes can’t match Ferrari ambition
To put Hamilton’s Ferrari settlement in its correct context, take into account his prior association with Mercedes.
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According to Forbes’ 2023 estimate, Hamilton’s Mercedes pay was over $55 million. Without bonuses, that determine put him on the prime of the F1 earnings hierarchy.
The switch to Ferrari improves Hamilton’s monetary bundle. However, it additionally represents an enormous funding by Ferrari in its bid to reclaim F1 competitiveness.
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