Lewis Hamilton, the legendary Formula 1 driver, has shocked the sports world with his decision to join Ferrari in 2025. Despite recently signing a multi-year contract extension with Mercedes, Hamilton triggered a break clause to make this dream move to the Scuderia happen. What makes this deal even more astounding is its financial magnitude, as reported by French publication Sportune.
Ferrari didn’t just lure Hamilton with the prospect of racing for their team; they offered him an unprecedented package. Initially, Hamilton turned down a two-year deal worth over $50 million per season. However, negotiations resumed, and the terms now include a staggering pay packet of over $87 million for 2025, with an option to extend for 2026. Much of this will go into funding Hamilton’s Mission 44 organization. Furthermore, Ferrari’s parent brand, Exor, plans to create a joint investment fund worth over $272 million, with Hamilton serving as the ambassador for his portfolio.
Hamilton, who has had an illustrious 11-year career with Mercedes, explained his decision to leave, stating that “the time is right” for this new challenge. He expressed gratitude for Mercedes and his commitment to performing best in his final season with the team in 2024……….[read more]
Considering the eye-popping financial aspects of Lewis Hamilton’s move to Ferrari and the role of sponsorships and investments in sports, how do such high-profile deals impact the athletes and the businesses and stakeholders involved?
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