F1 News: Lewis Hamilton's Mercedes Exit Branded "Super Cheap For Ferrari"
Lewis Hamilton's departure from Mercedes to join Ferrari has been hailed as a "super cheap" move by the Italian team, particularly after a significant surge in their stock value. Jacques Villeneuve, the 1997 F1 World Champion, commented on the remarkable business impact of this transition, highlighting the swift increase in Ferrari's market value.
Key Takeaways:
- Jacques Villeneuve labelled Lewis Hamilton's switch to Ferrari as "cheap," considering the immediate positive impact on Ferrari's share value.
- Ferrari's stock value on the New York Stock Exchange soared by US$7 billion following the announcement of Hamilton's move.
- Hamilton's departure from Mercedes ends an 11-year association, marked by considerable success, including his most recent world title in 2020.
Jacques Villeneuve, the 1997 champion, has openly praised Hamilton's move, noting the immediate and substantial boost to Ferrari's stock value, a testament to the British driver's unparalleled market appeal. Villeneuve commented:
“It’s amazing. The impact we have already seen with the share value in Ferrari bouncing up in 24 hours.
“That shows the effect. Ferrari’s value went up by US$7 billion on the New York Stock Exchange with the Hamilton announcement.
This shift not only signifies a major strategic pivot within Formula 1 but also marks the end of an era for Mercedes, with whom Hamilton has achieved tremendous success over an 11-year tenure, culminating in his latest world title in 2020.
Villeneuve added:
“When you look at it like that, it was super cheap for Ferrari to get Lewis. Lewis already has made money for Ferrari even after they have paid him. So that’s great. Lewis is really keen on his eighth championship and he could see he wouldn’t get it with Mercedes.
“The chances of getting an eighth are remote anyway even though he can still drive to that level. There’s no issues there.
“But as you have seen with Alonso, you still need to be in the right place at the right time. Lewis made an amazing move from McLaren to Mercedes, everyone thought he was crazy and look what happened. Six championships in that relationship.”
Thank you to BitcoinCasinos for setting up this interview.