Ferrari President John Elkann is said to have offered Lewis Hamilton a joint investment fund via his Exor family business to help with his various projects out of Formula 1.
Elkann and Hamilton maintain a friendship which was key in Ferrari attracting the Mercedes driver to a multi-year contract starting in 2025 – the news of which broke to the surprise of everyone associated with the sport on Thursday.
Hamilton activated a clause in his contract to end his two-year Mercedes extension at the halfway point – the end of this coming season.
Beyond the allure of driving for Ferrari and the potential of winning an eighth world title, Sportune reports that a sizeable investment to aid Hamilton’s projects also helped encourage the British driver’s signature.
The French media outlet reports that in addition to a yearly contract that is alleged to be worth in the region of €80 million a year, Elkann has proposed a €250 million joint venture for Hamilton’s out-of-F1 initiatives, whilst making the British driver an ambassador of his own brand.
Chief among Hamilton’s initiatives is Mission 44, a charitable organisation dedicated to encouraging a more inclusive education system and encouraging persons from diverse backgrounds to launch careers within STEM, motorsport, and the creative industries.
Upon signing his two-year contract extension with Mercedes in September, Hamilton expressed his desire to end his career with the Silver Arrows and emulate the late Stirling Moss by extending that relationship beyond retirement from F1.
Crucially, however, Sportune notes an ambassadorial role was a sticking point in Hamilton’s negotiations with Mercedes and remained off of the table.
Hamilton will be 40 when he embarks on his Ferrari journey and the multi-year contract he has signed with the Scuderia could well be his last in F1.
As a result, any terms outside of racing hold greater importance compared to deals made by Hamilton’s younger rivals.
Discussion about this post