Lewis Hamilton’s debut season with Ferrari ended in a disappointing sixth place, and the reported terms of his contract extension may present challenges for the team

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Lewis Hamilton’s Ferrari contract is a hot topic during this pre-season(Image: Sam Bagnall, Sutton Imagesvia Getty Images)

When Lewis Hamilton signed a deal with Ferrari in February 2024, it seemed like the perfect pairing, as the most successful team in Formula 1 had secured the joint-most successful driver. But the duration of his stay could now become a burden for the team.

On paper, it was a dream come true. However, the reality has been far from ideal. Hamilton’s inaugural season in red ended in a deeply disappointing sixth place, with no podium finishes.

He finished more than 250 points behind world champion Lando Norris, and even more damningly, he ended up nearly 100 points adrift of his own team-mate, Charles Leclerc. In short, nothing has gone as planned.

The season has verged on being a disaster. Any aspirations of starting anew have been further hampered by the reported terms of Hamilton’s Ferrari contract, which have recently come to light.

BILD reported the contract doesn’t expire for another two years. And it includes a clause allowing the 40-year-old to extend his stay by an additional 12 months.

This option, reportedly worth £41million per year, could mean Ferrari is stuck with Hamilton longer than they’d prefer. It also implies Hamilton could be nearly 44 when his tenure in Italy concludes, making him one of the oldest drivers in modern F1 history.

Ferrari are reportedly fully cognisant of the complexity of the situation. While Hamilton continues to be a potent brand ambassador, attracting fans and customers worldwide, this alone cannot compensate for a lack of on-track results.

After all, Ferrari made him the second-highest-paid driver in F1, second only to Max Verstappen. The Dutchman rakes in around £55million annually at Red Bull, and expectations naturally followed.

Neither Ferrari nor Hamilton is a stranger to underwhelming form. The Scuderia haven’t celebrated a world champion since Kimi Raikkonen’s victory in 2007, a dry spell that has only amplified the pressure on their marquee signings.

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Hamilton’s first year at Maranello was not the success he nor Ferrari desired(Image: Getty Images)

Hamilton, on the other hand, has been out of the championship conversation for four straight seasons. Since narrowly losing the title to Verstappen in the final race of 2021, he has finished higher than sixth just once in subsequent campaigns.

That solitary high came in 2023 when he secured third place overall. Even then, he trailed Verstappen by more than 250 points as he comfortably won the championship that year.

Despite his dip in form, Ferrari team principal Fred Vasseur, who signed his own fresh terms this year, is said to remain confident in Hamilton’s driving prowess. And it appears those running the team consider the Briton’s age little more than a number.

Vasseur also reckons the Brit’s worldwide profile, legacy and extensive experience can lay a crucial groundwork for Ferrari’s long-term transformation. However, without concrete success on the track, Ferrari’s high-profile acquisition could risk becoming one of the most expensive blunders in F1 history.