Lewis Hamilton F1 deal nets Ferrari $7BILLION windfall

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

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Hamilton F1 deal nets Ferrari $7BILLION windfall

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 02:57

Lewis Hamilton's stunning move to Ferrari appears to have been worth $7bn to the Italian team, even before the deal was officially confirmed.

The British driver completed an unexpected switch to the Scuderia on Thursday, upending the Formula 1 grid a year before he'll actually drive for the historic team.

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.

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

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Sportico have run the numbers on the deal, revealing that Ferrari's stock price flew up after the news emerged early on Thursday morning - even before the team confirmed the deal.

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

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.

Lewis Hamilton Ferrari Formula 1 Carlos Sainz