Lewis Hamilton’s Ferrari Contract: How Much He Makes Compared To Mercedes

Lewis Hamilton’s Ferrari contract

While Lewis Hamilton’s Ferrari contract—which begins in 2025—hasn’t publicly been disclosed, the Daily Mail reported in 2023 that John Elkann, Ferrari president, had offered Hamilton around £40 million (almost $51 million) per annum deal, but some pundits speculated the F1 superstar could fetch more than that.

Formula 1 journalist Peter Windsor took to YouTube to say: “If I was Lewis Hamilton, I’d be going for a lot more than £40million because you could argue that Lewis, with the Ferrari brand and what he could do for the Ferrari brand, should be thinking in terms of at least £50m just for PR and brand turnaround.”

He continued: “I would say about 80 would be more logical. And if they’re not going to pay that sort of money, I don’t think he should do it. I think he should stay at Mercedes and look for some long-term deal at Mercedes and continue. … If Lewis is going to Ferrari, it’s such a big unknown in terms of how competitive that car would be that, if I was Lewis, I wouldn’t go for less than 80.”

On the day the news of Hamilton’s signing broke, the Italian car manufacturer’s was boosted by $6 billion, with its stock price going up by over 10 percent.

Why did Lewis Hamilton leave Mercedes?

Why did Lewis Hamilton leave Mercedes? In an official statement, Hamilton said he was keen on a new challenge. “I have had an amazing 11 years with this team and I’m so proud of what we have achieved together. Mercedes has been part of my life since I was 13 years old. It’s a place where I have grown up, so making the decision to leave was one of the hardest decisions I have ever had to make. But the time is right for me to take this step and I’m excited to be taking on a new challenge.”

He continued: “I will be forever grateful for the incredible support of my Mercedes family, especially Toto for his friendship and leadership and I want to finish on a high together. I am 100% committed to delivering the best performance I can this season and making my last year with the Silver Arrows, one to remember.”

Toto Wolff, Mercedes Team Principal and CEO, said: “In terms of a team-driver pairing, our relationship with Lewis has become the most successful the sport has seen, and that’s something we can look back on with pride; Lewis will always be an important part of Mercedes motorsport history. However, we knew our partnership would come to a natural end at some point, and that day has now come. We accept Lewis’s decision to seek a fresh challenge, and our opportunities for the future are exciting to contemplate. But for now, we still have one season to go, and we are focused on going racing to deliver a strong 2024.”

Lewis Hamilton’s Mercedes contract

After his first tenure which began in 2013, Lewis Hamilton’s Mercedes contract was worth £100m (around $99 million at the time) over three years. It made him among the best-paid drivers in F1.

“Mercedes is my home and I couldn’t be happier to be staying here for another three years,” Hamilton said at the time, per The Guardian. “This is a company filled with real passionate racers, from the boardroom to the factory floor, and an incredible hunger to win. Even after the success of last year, that hunger is greater than ever – and it’s the same for me, too.”