Ferrari has made Formula 1 history by becoming the first team to surpass €100 million in combined driver salaries following Charles Leclerc’s contract extension with the Italian outfit. The Monégasque driver’s new deal, announced without specific financial or duration details, is estimated to be worth approximately €50 million annually, representing a significant increase from his previous €34 million salary.
The substantial pay raise for Leclerc comes on the heels of Lewis Hamilton’s arrival at Maranello, with the seven-time world champion reportedly earning around €60 million per season. This astronomical combined figure establishes Ferrari as the most extravagant spender in driver compensation across the Formula 1 grid, widening an already considerable gap between the Scuderia and its competitors.
Red Bull Racing currently holds second position in the unofficial driver salary rankings with approximately €75 million in combined wages, though the vast majority of that figure—roughly €70 million—is attributed solely to Max Verstappen’s contract. The disparity between Ferrari’s projected €110 million driver budget and Red Bull’s spending highlights the escalating financial arms race in modern Formula 1.
While Ferrari has not disclosed the length of Leclerc’s extension or confirmed the financial terms, industry estimates suggest the deal represents one of the most lucrative driver contracts in motorsport history. The agreement ensures the 27-year-old will remain with the team for the foreseeable future as Ferrari continues its pursuit of championship glory with one of the sport’s most expensive driver lineups ever assembled.