F1 Rumour: Carlos Sainz Set For Multi-Year Ferrari Deal

Carlos Sainz's current contract with Ferrari expires next year.

Rumors are that Carlos Sainz is set for a multi-year deal with Ferrari, an extension that he had been reportedly looking forward to for a long time. His current contract with the Maranello outfit is set to expire toward the end of 2024. 

Not only Sainz but even teammate Charles Leclerc would run out of a contract at the end of next year, which means that Ferrari has got some serious calls to take concerning their long-term driver plans. 

Reports suggest that both drivers are set for a multi-year deal with the Red team on terms that they would be pleased with. It was reported by La Gazzetta dello Sport that Leclerc would be offered a long five-year Ferrari contract extension with a variable salary up to €50 million.

Ferrari Press Image

Now though, respected journalist Giuliano Duchessa for Formu1a.uno has reported on similar lines. Supposedly, there is a proposed three-year contract for Leclerc, with the option for an additional two years incorporating performance-related clauses. The contract outlines a "variable salary up to €50 million," representing a significant increase in pay for the Monégasque driver.

It is rumored that Sainz is in line for a salary increase with his renewed contract, one considerably more modest compared to the potential earnings Leclerc might secure. The report suggests that various teams are expressing interest in Sainz should he become available on the driver market, with Audi's name once again being mentioned despite firm denials from the Spaniard in the past. Nevertheless, all fingers point to suggest that Sainz and Ferrari are on track to finalize this new contract.

Heading into 2024, Ferrari aims to compete for the championship after not being able to do so in the last season. While Red Bull poses a formidable challenge to overcome, it's noteworthy that Ferrari secured the distinction of being the sole non-Red Bull team to achieve a Grand Prix victory in F1 2023, with Sainz emerging victorious in Singapore.