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Ferrari has become the first team in Formula 1 history to push its annual driver salary bill beyond €100 million ($116.02 million), after Charles Leclerc reportedly signed a renewed contract that raised his earnings to around €50 million per year.
The new figure, combined with Lewis Hamilton’s reported annual salary of about €60 million, takes Ferrari’s total driver pay to approximately €110 million a year. The figures are based on claims cited in foreign media and have not been presented as official team data.
Charles Leclerc’s renewed agreement with Ferrari appears to have significantly narrowed the financial gap between the team’s two drivers.
Before the new deal, Leclerc was reportedly earning around €34 million per year, while Hamilton, who joined Ferrari last season, was understood to be receiving about €60 million annually. That difference had created a notable pay gap within one of Formula 1’s most prominent teams.
With Leclerc’s new contract reportedly lifting his salary to the €50 million range, Ferrari’s driver wage structure has moved into a new financial bracket.
If the reported figures reflect the final terms of the agreements, Ferrari’s annual driver salary spending has climbed to about €110 million.
That would make the Italian team the first in Formula 1 history to cross the €100 million mark in combined driver salaries.
The milestone comes as Ferrari lines up two of the sport’s most high-profile names, pairing seven-time world champion Lewis Hamilton with long-serving Monacan driver Charles Leclerc.
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