Formula One is a sport that is constantly in motion, with teams and drivers constantly signing new deals and renewing old ones. But what happens when a driver’s contract expires? In this article, we’ll take a look at some of the biggest names in the sport and when their current contracts are set to expire, as well as what their options might be for the future. Whether you’re a die-hard fan of the sport or just a casual observer, this is a must-read for anyone interested in the business side of Formula One.
Lewis Hamilton – End of 2023
Lewis Hamilton’s current contract with Mercedes is due to expire at the end of the 2023 season. However, both parties have expressed interest in extending this. Despite rumours circulating of an extension of two years plus another ten years as an ambassador to the team, Mercedes have confirmed that negotiations have not started yet.
We expect to hear soon what has been agreed between the Mercedes team and the seven-time champion.
George Russell – “Multi-year”
George Russell joined the Mercedes team for the 2022 season, moving up from Williams. It was reported at the time that the young British driver signed a “multi-year” deal with the team but it has not been confirmed when this is due to expire.
Max Verstappen – End of 2028
Red Bull are going to want to hold on to Max Verstappen for as long as they can with the driving being at the top of his game. The Belgian-Dutch driver stormed his way through the 2022 season taking his second championship win at the Japanese Grand Prix and taking the team to victory of the constructor’s championship at the Austin Grand Prix.
Verstappen is contracted with Red Bull until the end of the 2028 season.
Sergio Perez – End of 2023
There is more uncertainty around Sergio Perez. He was contracted until the end of the 2022 season with Red Bull but signed a one year extension last year taking him to the end of the upcoming 2023 season.
With Australian driver Daniel Ricciardo signing with the team as a reserve driver for 2023, there is a lot of speculation over whether he will be able to prove himself in the car and take Perez’s seat for 2024.
Charles Leclerc – End of 2024
Charles Leclerc has been reported to have signed with Ferrari until the end of the 2024 season. The Monégasque started off the 2022 season showing great performance with many thinking he might be on his way to taking the championship. However, the team started to encounter car problems and many strategical errors.
Carlos Sainz – End of 2024
Similarly to Lecerc, Carlos Sainz is also contracted with Ferrari until the end of 2024. The Spanish driver also showed great performance in 2022. The team is heading into 2023 with a new team principal, Frederic Vasseur, so both drivers will be hoping they can put the strategical and car issues behind them.
Lando Norris – End of 2025
Lando Norris is heading into his fifth season with McLaren and is currently in contract until the end of the 2025 season. Norris managed to handle the issues with the 2022 McLaren more than his previous teammate Daniel Ricciardo, which saw the team part ways with the Australian driver.
Oscar Piastri – “Multi-year”
Oscar Piastri is going into his rookie season with McLaren. The team revealed that they had signed the young Australian driver after it was confirmed that Ricciardo would be leaving the team. It has not been confirmed how long Piastri has signed with the team for, but it has been revealed that it is a “multi-year” contract.
Pierre Gasly – “Multi-year”
Pierre Gasly left the AlphaTauri team at the end of 2022 and signed with Alpine. The Frenchman started conversations with Alpine during the 2022 summer break and AlphaTauri agreed to release him from his contract early so long as they could sign a good driver as his replacement.
Alpine have not confirmed how long they have signed Gasly for but have said it is a “multi-year” deal.
Esteban Ocon – End of 2024
Esteban Ocon signed with Alpine in 2021 and is said to be in contract until the end of the 2024 season. The Frenchman raced alongside Fernando Alonso in 2022 but the Spanish driver revealed he was leaving the team to take Sebastian Vettel’s seat at Aston Martin.
Fernando Alonso – “Multi-year”
Sebastian Vettel announced his retirement during the 2022 season leaving a seat open at Aston Martin which was quickly taken by Fernando Alonso. The two-time champion made the move from Alpine signing a “multi-year” contract with Aston Martin.
Lance Stroll – End of 2023
Lance Stroll’s contract with Aston Martin is due to expire at the end of the 2023 season. However, with his father now owning Aston Martin, it is fairly obvious his contract will be extended. There have not been announcements of this yet, but we expect to hear during the upcoming 2023 season.
Yuki Tsunoda – End of 2023 season
Yuki Tsunoda joined AlphaTauri on the grid in 2021 and is in contract with the team until the end of the 2023 season. Team chief Franz Tost recently revealed that his number one choice to take Gasly’s spot on the team was Mick Schumacher, but Red Bull advisor Helmut Marko pushed for it to go to Nyck de Vries. This has raised questions over whether Schumacher might be a possibility for the team in 2024 rather than extending Tsunoda’s contract.
Nyck de Vries – End of 2023 season
Nyck de Vries is joining AlphaTauri for his rookie season in 2023, although he is expected to show great performance after he stepped in last minute for Alex Albon at the 2022 Italian Grand Prix. De Vries is a Formula E and Formula 2 champion. There are rumours that his contract is only a year to allow him to be ‘promoted’ to Red Bull, taking Sergio Perez’s seat, if he can show the performance needed.
Kevin Magnussen – “Multi-year”
Haas brought Kevin Magnussen back at the last minute after cutting ties with Russian driver Nikita Mazepin during the 2022 pre-season testing after Russia’s invasion of Ukraine. Magnussen quickly proved he was worthy of a place on the team when he came fifth in the opening race of the season. The Danish driver also went on take his first pole position for the Brazilian Grand Prix sprint race, which was also the first for the team.
Haas have confirmed they have signed a “multi-year” contract with the driver but have not specified when this expires.
Nico Hulkenberg – End of 2023
Haas announced after the end of the 2022 season that they were parting ways with Mick Schumacher and that Nico Hulkenberg is taking his seat on the team. Hulkenberg is making is comeback to the grid after being a reserve driver for Aston Martin for a number of years. It is reported that his contract with Haas is just for one year until the end of 2023.
Valtteri Bottas – End of 2024
Valtteri Bottas joined Alfa Romeo in 2021 after a long stint with Mercedes and is in contract with the team until the end of the 2024 season. The Finnish driver came tenth in the drivers’ championship in 2022.
Zhou Guanyu – End of 2023
Zhou Guanyu had his rookie season in 2022 and initially had a one year contract with the Alfa Romeo team. However, the Chinese had his contract extended during 2022 for another year until the end of the upcoming 2023 season.
Alex Albon – End of 2024
Alex Albon joined Williams in 2022 after losing his seat with Red Bull. He has reportedly signed with the team until the end of 2024. The Williams team are heading into 2023 with new team principal James Vowles, who is moving from his role as chief strategist for Mercedes.
Logan Sargeant – TBC
Williams announced at the 2022 Austin Grand Prix that they had offered American driver Logan Sargeant a seat on the team after they confirmed they were parting ways with Nicholas Latifi at the end of the year. Sargeant had to gather enough points on his super licence by the end of his Formula 2 season, which he was able to do, so is now heading into his rookie season with the team.
Williams have not confirmed how long they have signed Sargeant for.
The drivers with potential movements at the end of 2023 are Sergio Perez, Yuki Tsunoda, Nyck de Vries, Nico Hulkenberg, and Zhou Guanyu.