Charles Leclerc’s ‘likely’ length of new contract reported as he extends Ferrari deal

Follow us on Google Discover

Charles Leclerc has become the first of 15 drivers whose contracts expire at the end of 2024 to sign a new deal as he extends his time with Ferrari.

The Formula 1 driver market is expected to be incredibly active in 2024 after every single driver was retained for this season, but Ferrari have already set the ball rolling on retaining one of the fastest drivers on the grid.

The team released a statement on Thursday afternoon confirming the news about the Monegasque driver, who shared that the ‘dream continues’ on his personal social media accounts.

Talking about his new deal, Charles Leclerc said: “I’m very pleased to know that I will be wearing the Scuderia Ferrari race suit for several more seasons to come.

“This team is my second family ever since I joined the Ferrari Driver Academy in 2016 and we have achieved a lot together, fighting through thick and thin over the past five years.

“However, I believe the best is yet to come and I can’t wait for this season to start, to make further progress and be competitive at every race.

“My dream remains that of winning the World Championship with Ferrari and I’m sure that in the years ahead, we will enjoy great times together and make our fans happy.”

Leclerc is one of the most highly-rated drivers on the grid, with Eddie Jordan considering him one of Max Verstappen’s main title rivals this season.

He recorded more pole positions than any other driver except the Dutchman last season but simply didn’t have the car to convert them into victories.

Leclerc wouldn’t have signed a new deal with Ferrari if he didn’t believe he could win championships with the team.

They’ve now got to deliver on their side and provide Leclerc and Carlos Sainz with the right car.

Judging by the reported length of the contract Leclerc has signed, he’s clearly got plenty of faith that the team will be competing at the top for years to come.

Leclerc signs new deal with Ferrari

A report from Italian outlet Gazzetta has provided more details on the 26-year-old’s agreement.

They suggest that although Ferrari haven’t communicated officially how long the Leclerc’s deal lasts, it is ‘likely’ to be the same duration as his previous contract.

Leclerc last signed a contract with Ferrari in 2019 under the stewardship of Mattia Binotto, suggesting that he’s committed his future to the team until 2029.

The report also states that there is an exit clause at the end of 2027 linked to performances and his wages will grow over the course of the contract.

They believe he could end up earning around double his current reported salary of £21million a year.

It means he’s now got a longer agreement than Max Verstappen at Red Bull and sets the pairing up to be rivals for years to come.

Gazzetta’s report is backed up by journalist Diego Mejia who said on X: “Ferrari announces the long-awaited renewal of Charles Leclerc’s contract for several seasons before starting their sixth year together in #F1.

“There is talk of an agreement until 2029, with an option to exit before the final two years. Will they achieve the desired title?”

All eyes will now be on Ferrari’s next move with Carlos Sainz still heading towards the end of his contract this year.

He’s been linked with a move to Audi but Ferrari’s chairman has already insisted their line-up won’t change for 2025.

There’s even been a suggestion he could replace Sergio Perez at Red Bull, but only time will tell if Leclerc and Sainz remain teammates in the future.