Ferrari’s worth has skyrocketed by over A$5.8 billion following the information Lewis Hamilton is ready to affix the crew in 2025.
The seven-time world champion will go away Mercedes on the finish the 2024 F1 season to affix Ferrari subsequent 12 months, partnering Charles Leclerc on the grid.
Following the shock information Ferrari’s share worth has elevated by six per cent, with their worth rising by A$6.12billion, The Solar studies.
The Italian agency additionally introduced their monetary outcomes on the identical day the Hamilton information broke.
Development in revenues and earnings have been confirmed by Ferrari for the 2023 monetary 12 months.
Ferrari’s share worth hit a file excessive of A$588 on the New York Inventory Change and the corporate’s market worth has elevated to round A$105 billion.
The corporate is closing in on a market worth of USD$100 billion and Ferrari might crack that milestone quickly if Hamilton’s early impact in the marketplace is something to go by.
A number of publications together with Crash.internet are reporting Hamilton may very well be paid a whopping USD$100 million (A$153 million) as a part of his new Ferrari deal.
That eyewatering wage would additionally embrace sponsors, picture rights and bonuses.
Hamilton’s present Mercedes deal sees him earn A$84 million per 12 months.
Hamilton’s transfer to Ferrari comes due to a break clause within the two-year deal he signed with Mercedes final season.
The clause permits him to depart the crew on the finish of 2024, with Ferrari set to swoop for the British driver.
He’ll substitute Carlos Sainz at Ferrari and associate Leclerc subsequent 12 months.
Hamilton’s exit will deliver to an finish an 11-year affiliation with Mercedes, which started in 2013.
Throughout that point, he has gained six world titles, together with 4 in a row between 2017 and 2020.
Nonetheless, he’s and not using a race win for the reason that 2021 Saudi Arabian Grand Prix.
The 39-year-old was capable of safe three second-place finishes final season, although, in Australia, Spain and Mexico.
He ended the 2023 Drivers’ Championship in third behind Purple Bull duo Max Verstappen and Sergio Perez.
The hearsay mill has already gone into overdrive about who will substitute Hamilton and be part of George Russell at Mercedes in 2025.
The F1 season begins on the Bahrain Grand Prix on Sunday March 2 Australian time.
Italy reacts to Hamilton bombshell
Nonetheless basking in Jannik Sinner’s triumph on the Australian Open, Hamilton switching to Ferrari was hailed as a “coup of worldwide proportions” by every day Corriere Della Sera.
“A crew which created historical past in motor racing is being united with an excellent champion… I anticipate electrical competitors, race after race, which can drive up curiosity throughout the board,” wrote former Ferrari driver Jean Alesi within the newspaper.
Italy’s greatest sports activities newspaper La Gazzetta Dello Sport devoted 9 pages to Hamilton and Ferrari on Friday, an enormous deal for a publication wherein soccer dominates protection.
However not even Sunday’s large Serie A conflict between Inter Milan and Juventus might shift Hamilton from the principle entrance web page story, because the well-known pink sports activities every day welcomed the seven-time world champion to Italy.
The Gazzetta described the transfer as a “gamble”, specifically as a result of Ferrari, who haven’t gained the F1 driver’s championship since 2007 and the constructors’ since 2008, now want to supply him with “the proper automotive to make historical past”.
Hamilton is chasing a file eighth title which might take him previous F1 icon Michael Schumacher, whose seven titles included 5 in succession with Ferrari from 2000 to 2004.
The Gazzetta additionally highlighted how the transfer for Hamilton might created issues for Ferrari with Charles Leclerc, who not too long ago signed a long-term contract with the Scuderia.
Turin-based every day La Stampa spoke to Riccardo Ceccarelli, the founding father of the Formulation Medication coaching centre which works with Leclerc.
“Lewis doesn’t look his age and he nonetheless has a protracted profession in entrance of him,” mentioned Ceccarelli.
“We have a tendency to consider response occasions and reflexes as being a very powerful issues in motor sport, however what counts extra is motivation and Hamilton is tremendous motivated.”
This text initially appeared in The Solar and was reproduced with permission.
— With AFP