Hamilton Sensation: Ferrari-bound from 2025

Seven-time Formula 1 World Champion Lewis Hamilton has confirmed he will leave Mercedes at the end of the 2024 season to join Ferrari on a multi-year deal starting in 2025.

On Thursday evening UK time, Mercedes announced that it would part ways with its star driver at the end of this year, activating an exit clause in the new contract signed last year which was set to run until the end of the 2025 season.

Soon after, Ferrari issued a short statement announcing it had signed a “multi-year agreement” with the Briton, who will partner Charles Leclerc in a new-look Scuderia line-up.

Hamilton joined the German manufacturer in 2013 and went on to win six Drivers’ Championships with the team in 2014, 2015, 2017, 2018, 2019, and 2020, becoming a seven-time champion. His first title, won with McLaren, was also powered by a Mercedes engine. In a controversial 2021 finale in Abu Dhabi, he lost out on an eighth title to Max Verstappen.

“As a team-driver combination, we have achieved the most successful partnership in the history of the sport, and we can look back on our relationship with pride,” said Mercedes team principal Toto Wolff. “Lewis will forever be part of the Mercedes motorsport family. But we also know that all good things must come to an end, and this is the right moment to recognize that together we have reached that point.”

“We respect Lewis’s decision to seek new challenges, and we are excited about the opportunities that lie ahead for us. For now, however, we remain focused on the 2024 season and competing at the front.”

Ferrari chairman John Elkann has repeatedly expressed his admiration for Hamilton and desire to work with him, but the Briton previously believed staying with Mercedes was the better choice, especially given their off-track STEM initiatives. However, following the 2022 regulation changes, Mercedes’ dominance was ended by Red Bull, and Hamilton’s victory drought now spans two seasons since George Russell took the team’s last win in Brazil in 2021.

Last month, Hamilton turned 39, and he will turn 40 next year. His move to Ferrari marks the end of his association with the Mercedes works team after 12 seasons, and it seems likely that Maranello will be the final stop in his F1 career.

“I’ve had an incredible 11 years with this team, and I’m proud of what we’ve achieved together,” said Hamilton. “Mercedes has been a part of my life since I was 13 years old. I’ve grown up here, so this was one of the hardest decisions I’ve ever had to make. But it’s time for me to take on new challenges, and I’m excited about what lies ahead.”

“I’ll forever be grateful for the incredible support I’ve received from the Mercedes family, especially Toto’s friendship and leadership. I hope to finish on a high and deliver the best results possible this season.”

The last British driver to race for Ferrari was Eddie Irvine, who left the team in 1999 after securing the championship title by just a point over Hamilton. Since then, Ferrari has signed Fernando Alonso and Sebastian Vettel, but fell short in championship battles. Last week, Ferrari announced a multi-year extension with Leclerc, without specifying the duration, while talks with Carlos Sainz, whose contract expires at the end of this season, have not been made public.

Hamilton will become the first British driver to race for Ferrari since Irvine, who won four races for the Italian marque.

Since news broke on Thursday of Hamilton’s move to Ferrari, the Italian sports car manufacturer’s stock price soared on the New York Stock Exchange. At the time of writing, Ferrari shares had jumped from Wednesday’s closing price of $346.79 to $384, with expectations of further growth. This has increased the company’s market value by nearly $7 billion, adding approximately $700 million to its valuation of $62.4 billion at the end of trading on the previous day. Over the past 12 months, Ferrari’s stock had dipped as low as $252.17.

With Hamilton’s departure from Mercedes at the end of the current season, the 2025 driver market is set to be chaotic, with half the grid’s contracts expiring at the end of this year.