Fresh Lewis Hamilton contract details emerge ahead of mega Ferrari move

Ferrari stuns fans as Lewis Hamilton joins the team.

Opting to swap Mercedes for Ferrari one year into his two-year deal, Fred Vasseur says Lewis Hamilton had to ask himself “where do I have the biggest chance to win a World title”.

Hamilton broke the internet back in February when he announced he would be joining Ferrari next season having evoked a release clause in his latest Mercedes extension.

Ferrari team boss: Lewis was an important symbol

Mercedes broke the news to their team boss, Toto Wolff, on February 1 that Hamilton would be parting ways with the team. Shortly after, Ferrari confirmed that the Briton had inked a multi-year agreement.

The reported value of Hamilton’s multi-year deal was estimated to exceed $400 million, considering all the clauses and incentives. There was speculation about the duration of the contract. Would it span two years? Perhaps a year with the possibility of extending for another year? Could it potentially be even longer?

Vasseur has recently announced that the duration for his pursuit of the record-breaking eighth World title will be three years. This decision was made by the 39-year-old, who needed a specific timeframe for his endeavor.

“Lewis was an important symbol because it sends a positive message to the paddock for the future of the team,” Vasseur told the Financial Times of the seven-time World Champion’s signing.

“He found himself at a crossroads, deliberating on the optimal opportunity to secure the World Championship titles in 2025, 2026, and 2027. Ultimately, he determined that Ferrari held the greatest potential for his triumph.”

“For us, it is also the best approach to attract exceptional individuals. While we already have talented individuals at Ferrari, my aim is to further strengthen our team.”

The majority of F1 technicians reside in the UK. When transitioning from Mercedes in Brackley to Red Bull in Milton Keynes, you have the convenience of maintaining your children’s enrollment in the same school and continuing to reside in your current house. This seamless transition allows you to switch between the two teams from Friday to Monday.

“When it comes to Italy, the narrative changes. Relocating the entire family becomes imperative; it signifies a complete shift in lifestyle. Lewis’s move will be advantageous for us.”

More on Lewis Hamilton’s shock move to Ferrari

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However, the main question that remains unanswered is whether Hamilton’s arrival will prompt Adrian Newey’s departure.

In May, it was announced that Newey would be departing from Red Bull in early 2025. Initially, there were strong speculations about him joining the Scuderia team, but later Aston Martin presented an enticing opportunity.

Despite suggestions that Ferrari has a pre-agreement with the design legend, Newey has explicitly stated that he will not make any decision before autumn, and possibly even winter.

Vassuer acknowledges that the Newey speculation is not within the scope of discussion, but he holds the belief that Ferrari has become an increasingly appealing team due to their willingness to take risks.

He stated, “If you have fear of taking risks, you will play it safe in every aspect, and in our industry, you can have five cars in just one-tenth of a second.”

“I have dedicated the past 15 months to motivating everyone around me. As we continue to embrace risks, our ability to manage them will improve. I am extremely satisfied with the progress we have made.”

“At Ferrari, we no longer fear the consequences of our actions. In the past, the team may have been apprehensive about external influences.”

“It falls upon me to oversee this and motivate them to display a little more assertiveness. Additionally, I am responsible for shouldering the blame when errors are made.”

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Ferrari Fred Vasseur