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Formula 1 star Lewis Hamilton is on the verge of completing a sensational switch to a new team in search of another title. It is a desperate last bid to win a record eighth world championship.
The 39-year-old Brit is poised to join the Italian team for the 2025 season – despite agreeing to a two-year deal with Mercedes last season.
Hamilton is on the verge of agreeing a blockbuster move which would see the seven-time world champion join the Italians in 2025. It would make the upcoming campaign a prolonged farewell tour to bring his 11-year Mercedes career to an end.
F1 insiders believe the deal could be completed within the next 24 hours in a bombshell move that would see Hamilton partner Charles Leclerc.
Hamilton has been linked with a switch to F1’s most famous team for a number of seasons but has always pledged his loyalty to Mercedes and their boss Toto Wolff.
Hamilton has been without a win since December of 2021 – the same season he lost the title to Red Bull’s Max Verstappen.
Since then, Mercedes has delivered two dud cars that have both been plagued by problems, meaning he has been unable to fight for wins – or titles.
Ferrari chairman John Elkann has been a long-term admirer of Hamilton’s talent and the two have held talks in the past.
It was reported at the time that Ferrari would offer him around £40 million a year ($78 million) and it’s likely he would earn something in that region.
Hamilton’s move would make sense, as he would offer Ferrari their chance to fight for championships.
He has also worked with Ferrari boss Frederic Vasseur in the past when he drove for his ART Grand Prix squad in GP2.
The move would mean that Carlos Sainz would be out of a seat – although he has been heavily linked with a switch to the new Audi team, who will take over at Sauber.
Meanwhile, Mercedes would need to find a replacement for Hamilton.
The deal will see Hamilton remain with the Silver Arrows until the end of 2024, which could make for an awkward season ahead.
Upon signing his new deal last summer, Hamilton said: “We have never been hungrier to win. We have learnt from every success but also every setback.
Hamilton – knighted in 2020 – is contracted to Mercedes until the end of 2025, a bind that requires some unpicking but not one that is not insuperable due to an ‘escape clause’ in his deal.
Driving for Ferrari has been an obsession nagging in Hamilton’s head all his career.
On February 1, 2024, Ferrari experienced a remarkable boost in its stock value, with a 6.40% increase. The surge followed the company’s announcement of a substantial rise in its adjusted EBITDA for the year, projecting a minimum of 2.45 billion euros, surpassing the previous year’s 2.28 billion euros.
This positive outlook is founded on an impressive order book and the company’s successful performance throughout 2023.
Investors have shown immense confidence in Ferrari’s long-term business strategy, evident in the surge of their stock.
The company’s adjusted EBITDA forecast for 2026, ranging from 2.5 to 2.7 billion euros, further reinforces this positive sentiment. The CEO attributes this optimistic outlook to the “exceptional visibility” provided by the company’s order book.
As of the latest update, Ferrari’s stock was trading at approximately $369.96 and $370 in premarket.
This projection holds significant importance for the company, especially considering the challenges it has faced and the impact on its performance and future prospects.
Various SOURCES