Lewis Hamilton F1 mega-deal worth BILLIONS to Ferrari already

Lewis Hamilton smiles in a Ferrari uniform with a background of bank notes — Photo: © IMAGO

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Hamilton F1 mega-deal worth BILLIONS to Ferrari already

The seven-time world champion is set to complete a stunning switch

Sam Cook Digital Journalist

Sports Journalist who has been covering motorsport since 2023

Friday 2 February 2024 09:12

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Lewis Hamilton's move to Ferrari was worth just over £6 billion to the Italian motorsport giants before a deal was even officially announced, with the team's share prices going through the roof on Thursday.

Hamilton is on the verge of completing what would be one of the most shocking switches in the recent history of F1, leaving his Mercedes team despite signing a new contract just five months ago.

While that new contract means that the seven-time world champion will definitely be with the Brackley-based squad for the upcoming season, Hamilton will move on to pastures new before the start of 2025, displacing Carlos Sainz.

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This shock news has led to an upsurge in Ferrari shares, with their market share price rising by over nine percent in just one day, emphasising just how much the Hamilton 'brand' is worth.

Lewis Hamilton has been poached away from Mercedes by Ferrari and Fred Vasseur

Lewis Hamilton is said to have a good relationship with Ferrari team principal Fred Vasseur

Lewis Hamilton will replace Carlos Sainz at Ferrari in 2025

Upturn in Ferrari fortunes

Now, Sportico have been doing the maths, and have worked out quite how much that market jump means in cash terms.

Ferrari's stock surged $7 billion this morning after the report of Lewis Hamilton joining @ScuderiaFerrari came out.

The team is by far the most valuable in @f1. Mercedes is ranked second at $2.7 Billion.

Full ranking: https://t.co/pZcWNPJh4b pic.twitter.com/5BxATTNzXG
— Sportico (@Sportico) February 1, 2024

While Mercedes' share price has stayed relatively stable during the whirlwind 24 hours of news, there's no doubt that the Brackley-based squad have been taken by surprise by the timing of this news, on the eve of the 2024 season.

The general thoughts had been that Hamilton would stay with the team until at least the end of 2025, and fight for his eighth world title alongside George Russell.

However, news of Hamilton's switch to Ferrari has completely ripped up these plans, and discussions will now be taking place to decide who is the best driver to take the seven-time world champion's vacant seat.