Ferrari has not won a Formula 1 title since 2007. Charles Leclerc has never won one at all. So Ferrari just signed him to the longest contract on the grid, running past 2030 and worth tens of millions a year. For a company worth $60 billion, the trophy was never the point.
Start with the money. Leclerc earns around $34 million a year, up to $50 million with bonuses. Teammate Lewis Hamilton, a seven-time champion, earns about $60 million. Together that is roughly $94 million a year, the biggest driver bill in the sport, for two men who have yet to win Ferrari a title.
One rule makes that possible. Formula 1 caps what a team can spend building and running its car at about $215 million a year. Driver pay is deliberately left outside the cap. So while everything else is rationed, drivers are where a rich team can still outspend everyone. Ferrari spends there.
Kimi Raikkonen won Ferrari's last drivers' title back in 2007. The team title came a year later, in 2008. That is roughly 18 years, the longest dry spell in the team's history. This season has not turned it around. Mercedes won the opening races, and Ferrari's new car is slow on the straights.
Ferrari, though, is worth about $60 billion, even after its shares fell nearly 30 percent in the past year. It sold only about 13,600 cars in 2025, fewer than a mass-market brand shifts in a day, yet made around 1.6 billion euros in profit. That works out to more than 115,000 euros of profit on every single car.
The race team is a giant advertising campaign for the car business, and Ferrari's own reports admit it. Better seasons bring bigger sponsorships the year after. The red cars winning on Sunday sell the red cars in the showroom on Monday.
There is one more quiet line in the accounts. Formula 1 pays Ferrari a bonus every year just for being Ferrari, the only team to race every season since the sport began in 1950. It has been reported at around $35 million a year, and Ferrari fought to keep it even as rivals called it outdated. Ferrari also has a rare power to block rule changes it dislikes, held since 1980.
So this reads as a branding decision more than a racing one. Leclerc has been Ferrari's golden boy since he joined its young-driver school in 2016, and is closing in on Michael Schumacher's Ferrari record of 180 race starts. His home win in Monaco in 2024 is the kind of moment a luxury brand sells for years.
A championship would still be lovely. Ferrari has gone 18 years without one, and its profits and its share price never seemed to mind. What this $60 billion brand needed was a red car people recognize anywhere and a driver they fall for, now locked in past 2030. That is what it just bought.
Post Malone is coming to Kuala Lumpur for the first time, bringing the Post Malone Presents The BIG Stadium World Tour at TM Stadium Nasional on 27 September with Don Toliver!
**Ticket prices, seating plan and VIP packages will be announced soon.
Become a Live Nation Malaysia member and registration for pre-sale π https://t.co/06C9zYvxRr
Post Malone Presents The BIG Stadium World Tour
π : 27 September 2026
π: TM Stadium Nasional (previously known as Bukit Jalil National Stadium)
π«: https://t.co/uJRDeSoV1xβ / GoLive Ticketing Appβ β
Save the dates!
π« ππ«ππ’π¬π ππ«ππ¬ππ₯π: Mon, 6 April, 11am - 11:59pm
Visit and sign up at https://t.co/6gHOHDnyhP for more info.
π« πππ¬πππ«πππ«π ππ«ππ¬ππ₯π: Tues, 7 April, 11am - Thurs, 9 April, 11amβ
Visit https://t.co/Cm8RQNnNr4 to find out more.β
π« ππ’π―π ππππ’π¨π§ ππ«ππ¬ππ₯π: Thurs, 9 April, 12pm - 11:59pm
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β β π« πππ§ππ«ππ₯ ππ§-πππ₯π: Fri, 10 April, 11am onwards.β
#PostMalone #BIGStadiumWorldTour #PostMaloneinKL#KualaLumpur #LiveNationMY
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#DoneExplain