Seven-time Formula 1 champion Lewis Hamilton is reportedly set to leave Mercedes, his team since 2013, and join Ferrari for the 2025 racing season. Hamilton signed a two-year contract extension with Mercedes last summer, but his contract reportedly gives him an out to leave after this season.
Hamilton, 39, is expected to replace Ferrari’s Carlos Sainz, whose contract expires at the end of this season. Charles Leclerc, Ferrari’s other driver, recently signed a contract extension rumored to go beyond 2024.
Ferrari ranks first in Sportico‘s latest Formula 1 valuations at $3.13 billion. Mercedes is just behind, valued at $2.7 billion. Ferrari, Mercedes and the Red Bull F1 team have won 22 of the last 25 championships; Ferrari saw a run of success in the early 2000s with Michael Schumacher winning five straight titles, but the team hasn’t won a title since Kimi Räikkönen in 2007.
Hamilton won his first F1 title in 2008 with McLaren in just his second year racing in Formula 1. The driver then joined Mercedes for the 2013 season, kicking off a historic run of six titles in seven years between 2014 and 2020.
Hamilton has won 82 races with Mercedes, and his 103 career wins overall is a record and 12 more than Schumacher. Hamilton and Schumacher are the only F1 drivers with seven championships.
Hamilton comes in at No. 19 in Sportico’s latest ranking of the highest-paid athletes in the world, earning $42 million in salary and prize money and $12 million in endorsements for a total of $54 million in the 12 months from May 2021 to April 2022.
Official confirmation of the move is expected later this morning.
(This story will be updated.)
