Only a few days ago, John Elkann assured that Leclerc and Sainz “will certainly remain” at Ferrari. He explained the team’s intentions to extend the contracts of both drivers in a recent event.
The winter break is an opportunity for all teams to discuss any contractual issues relating to the team. This doesn’t just include drivers but also engineers and other personnel. Fred Vasseur also signalled earlier in 2023 that contract talks would primarily take place over winter.
At Ferrari, there are contract talks with Charles Leclerc and Carlos Sainz, whose contracts expire in 2024.
The Ferrari Team Principal wants to continue with both, as he negotiated two proposals to guarantee stability for the Maranello-based team.
Charles Leclerc: multi-year renewal with variable salary of up to 50 million
The situation regarding the Monegasque is clear, with both parties wanting to secure a deal.
Both Ferrari and Charles Leclerc want to continue their relationship despite ups and downs in performance. So far, these struggles have not affected the relationship between the driver and the team.
Leclerc’s love for the Prancing Horse is well-known, and so is the confidence that Maranello has shown in his abilities – which has only grown since his official debut with Ferrari in 2019.
Discussions for contract renewals have begun, and John Elkann’s confidence shows how close an agreement is.
The good relationship between Frederic Vasseur and Charles Leclerc has made discussions relatively easy. Vasseur entered into these talks with a very specific plan and strategy.
Currently on the table is a three-year contract, without exit clauses or conditions, with the option to extend for two more years – under certain conditions and performance clauses. This will be very significant when the regulations change in 2026.
Financially, Leclerc will receive a significant boost, but this will rise incrementally over time. This has contributed to the initially expected two-year deal increasing to three years.
The subsequent two-year option will only be taken if the agreement satisfies both parties. Primarily, this will involve giving Leclerc a competitive Ferrari – which can allow the relationship to continue for a total of 5 years.
Carlos Sainz: The Spaniard’s offer is a two-year deal with options
The Spaniard’s situation is slightly more complex and perhaps a little less fluid. However, Ferrari seems to have no doubts about their desire to continue with Sainz and to extend with a new two-year contract.
This will keep Sainz at Ferrari until 2026, which is when the Spaniard should see increased financial compensation.
There is interest in Carlos Sainz from other teams on the grid. His experience, speed, and reliability in technical indications helped the team grow in many aspects during a challenging summer phase with the SF-23.
Several teams have interest in his services, most obviously Audi – whose admiration for the Spaniard is well documented.
With that said, barring any surprises, it is expected that the Spaniard will continue with Ferrari.
Translation: Jaden Diaz-Ndisang