Charles Leclerc has been all over the news recently as rumors continue to circulate about his future. There have been fears that the Monegasque may leave Ferrari because of the team’s disastrous start to the 2023 season. However, as these rumors continue, one report from sportune.20minutes.fr (as quoted by formulapassion.it) has stated that the 25-year-old is all set to sign a five-year extension with the team that would earn him a whopping $16,000,000 hike. If Leclerc does end up signing such a contract, he would sign another long-term deal with Ferrari, having registered a record back in 2019 when he became the first driver to sign a five-year contract with the side.

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Such a deal would be music to the ears to Ferrari fans, who have been hoping that Leclerc extends his stay with the team. While the terms of his contract are complex, it would most likely ensure that the Monegasque stays with Ferrari until the end of the decade.

Charles Leclerc to sign a ‘2+3‘ formula contract extension

According to the report issued by sportune.20minutes.fr, Charles Leclerc will sign a contract extension with Ferrari that will have a complicated 2+3 formula. As per this deal, the first two-year period will not include any exit clauses.

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However, with F1 set to undergo rule changes from the 2026 season onwards, Leclerc will have exit clauses based on his performances in the years after. This means that the Monegasque has the opportunity to free himself from his contract if he chooses to do so.

Hence, since Leclerc will sign a 2+3 formula contract, his salary would increase the more years he stays as Ferrari will reward him for his loyalty. This report states that the 25-year-old could earn as much as $55.1 million for the 2029 season alone if he stays with Ferrari until that point. When it comes to his entire package, he will receive $198,500,000.

This would mean that he would earn an average of $40,000,000 each year. If Leclerc does end up receiving such a package, he would earn a staggering $16,000,000 more each season than he did on his previous deal, as per which he pocketed $24,000,000 per year.

Since this report emerges amid rumors that Leclerc may leave Ferrari because of the side’s underperformance, the fans of the Prancing Horse can now have some respite. However, it is pertinent to note that the Monegasque himself has never made any remarks of him wanting to leave, and that he has also appreciated his side when they have done well.

Leclerc was all praises for Ferrari after Belgian GP podium

Prior to the summer break, Charles Leclerc had a strong weekend at SPA as he finished a fantastic third. The Monegasque finished just behind the two Red Bulls of reigning world champion Max Verstappen and his teammate, Sergio Perez. After his podium finish, Leclerc was all smiles as he explained how that weekend had been a positive one for Ferrari in terms of improved pace.

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However, he did make it clear that the team still has a lot of work to do if they are to take another step forward. Therefore, considering the 25-year-old’s remarks, it will be interesting to see how the rest of the 2023 season pans out for him and Ferrari.

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