Ferrari make huge promise to Lewis Hamilton in stunning deal

Lewis Hamilton talking to Frederic Vasseur — Photo: © IMAGO

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Ferrari make huge promise to Hamilton in stunning deal

The Maranello-based team are going to help Hamilton with various goals

By Sam Cook.

Thursday 8 February 2024 16:57

Ferrari have promised Lewis Hamilton millions of dollars in support for his various out-of-Formula-1 ventures as part of his new contract, which will already reportedly pay him $80m a year.

The 39-year-old took the surprise decision to exercise the break clause in his Mercedes contract, and will join the Italian giants for the 2025 season.

He will be hoping to win an unprecedented eighth world title with the Maranello-based team, as well as claim Ferrari their first title of any kind since 2008.

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For Hamilton, it means ditching the Mercedes team that have helped him claim six of his seven world championships, and 82 of his record 103 race victories.

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Reports from Italy suggest that Hamilton's new base salary will be over $80m per year, while other endeavours may make the total package worth over a whopping $300m.

That's because of a Ferrari promise to invest in some of Hamilton's projects, including his Mission 44 organisation, which seeks to reimagine the future and empower young people from underserved communities.

Ferrari chairman John Elkann is known to share a good off-track relationship with Hamilton, and The Qualifier are reporting that the American was more willing to invest in the 39-year-old's endeavours than Mercedes.

"Elkann promises to embrace and champion Hamilton's diversity and inclusion initiatives, including Mission 44," they say.

"The potential joint investment fund with Exor could contribute $250 million to Hamilton’s future projects on top of his compensation for his on-track services, making his total deal with Ferrari an astonishing $400 million."

Max Verstappen Lewis Hamilton Ferrari Mercedes Carlos Sainz