Carlos Sainz Nears Multi-Year Ferrari Extension Amidst Rising Team Expectations

In a significant development in Formula 1, Carlos Sainz is reportedly close to signing a multi-year extension with Ferrari, as his current contract nears its end in 2024. This move aligns with Ferrari’s long-term strategy, especially as teammate Charles Leclerc is also anticipated to renew his contract.

Key Takeaways:

• Contract Renewals at Ferrari: Carlos Sainz and Charles Leclerc, whose contracts with Ferrari expire at the end of next year, are both reportedly in talks for multi-year extensions. This indicates Ferrari’s commitment to retaining its strong driver lineup.
• Leclerc’s Lucrative Deal: Charles Leclerc is rumored to be offered a five-year extension with a variable salary that could reach up to €50 million, as reported by La Gazzetta dello Sport. Giuliano Duchessa of Formu1a.uno further suggests a three-year deal for Leclerc with an option for two additional years, including performance-related clauses.
• Sainz’s Position and Potential Earnings: While Carlos Sainz is also in line for a salary boost, it is expected to be more modest compared to Leclerc’s potential earnings. Additionally, there is interest from other teams, including Audi, in securing Sainz if he becomes available.

Carlos Sainz, the talented Formula 1 driver currently with Ferrari, is approaching the end of his contract in 2024. Amidst the buzz of the F1 world, he is reportedly set for a multi-year deal with the prestigious Maranello outfit, a development eagerly anticipated by many. His teammate, Charles Leclerc, is also facing a similar situation with his contract expiring next year, signaling crucial decision-making times ahead for Ferrari.

La Gazzetta dello Sport has shed light on the specifics of Leclerc’s proposed deal. They report a remarkable five-year contract extension offer, featuring a variable salary that could ascend as high as €50 million. Complementing this, Formu1a.uno’s respected journalist Giuliano Duchessa reports a slightly different structure for Leclerc’s contract. It’s proposed as a three-year deal with an additional two-year option, incorporating performance-related clauses, and promises a significant pay rise for the Monégasque driver.

On the other side, Sainz is expected to see a salary increase, although not as substantial as Leclerc’s prospective earnings. The market shows interest in Sainz, with teams like Audi being mentioned despite previous denials from the Spaniard. However, all indications point towards a successful negotiation between Sainz and Ferrari for a renewed contract.

As Ferrari gears up for the 2024 season, their aspirations to challenge for the championship are high, especially after not being able to compete for the title last season. The team’s potential was highlighted in F1 2023, where they stood as the only non-Red Bull team to clinch a Grand Prix victory, thanks to Sainz’s triumph in Singapore. This upcoming season presents an exciting chapter for Ferrari as they aim to build on their successes and navigate the competitive landscape of Formula 1.