Lewis Hamilton will reportedly rake in £85million per year at Ferrari when he joins in 2025.
Hamilton stunned the sporting world on Thursday when news broke that he would trade Mercedes – the team he has been with for 11 seasons – for the Italian powerhouses.
The 39-year-old will join on a multi-year deal with the aim of recapturing the World Drivers’ Championship from Max Verstappen – and setting a new record of eight title triumphs.
His financial package, swelled by salary, sponsors, image rights, bonuses and more, will reach £85m according to Italian website formu1a.uno.
That is not far off double his £50m compensation at Mercedes.
Lewis Hamilton will earn £85m per year at Ferrari, according to an Italian F1 website
Hamilton shocked the world when news broke that he would leave behind Mercedes, with whom he has won six World Drivers’ Championships, for the Scuederia
It is also more than twice the £40m Ferrari were willing to offer him in May – a story exclusively broken by Mail Sport and one which was vehemently denied.
According to formu1a.uno’s report, Hamilton was swung not only by the money involved but by assurances of the car’s competitiveness.
That included technical guarantees, for example around the car’s new engine, which is being designed at Maranello to it the track from the 2026 season.
The Scuderia were dogged with an unreliable engine in the 2023 season, which meant that even if they had raw pace they could not compete with Red Bull long-term.
Arriving in 2026, the new engine regulations will allow teams a fresh start – and Hamilton will be hoping that can unlock at least another title for him.
Hamilton had previously expressed a desire to stay with Mercedes, where he has won six of his seven individual titles and cemented his place as one of the very best to grace the sport.
However, the Silver Arrows have been flimsy in the wake of Red Bull’s recent dominance and Hamilton finished last season with less then half the points of Verstappen.
Britain’s greatest driver will partner with Charles Leclerc, while Carlos Sainz will make way for him.
Technical assurances – including over their engine from 2026 – were a swaying factor in his decision to join
Frederic Vasseur, who has long been a mentor to Hamilton, is Ferrari’s team principal and that was also a persuasive factor
Another factor which was reportedly persuasive for Hamilton is the presence of his former mentor Frederic Vasseur at Ferrari.
The Ferrari team boss has a special bond with Hamilton, so it will come as no surprise that the Briton is keen to work with the Frenchman again.
Hamilton won Formula Three and GP2 (now Formula Two) championships with Vasseur’s ART team in 2005 and 2006 before making a spectacular Formula One debut with McLaren in 2007.
‘I talk to him at every GP, he raced for me 20 years ago and we are still close,’ Vasseur, who joined Ferrari in January 2023, told Italy’s Gazzetta dello Sport newspaper last season.
‘Clearly, if they (the media) see us together in the paddock, there’s a lot of fuss, but the relationship has remained.
‘I don’t want to compare him to our drivers, it wouldn’t make sense.’
Clearly some comparison has taken place between Hamilton and Sainz, and it is the Englishman who has come out on top.
Carlos Sainz will make way for Hamilton, who will first undertake his 12th season at Mercedes
Driving for Ferrari has been an obsession nagging in Hamilton’s head all his career.
There have been flirtations between the two parties for a while, and he has driven red road cars off the forecourt of their Beverly Hills dealership, as well as visited the factory in Maranello.
£85m is a humongous sum of money, but uniqueness in the pantheon of greats is how Hamilton will want his glittering career to close.