F1 Rumor: Ferrari Chairperson Invested $400 Million in Lewis Hamilton as Ambassador

Lewis Hamilton, known for his historic stint with Mercedes has charted a new course for his extraordinary career, to partner Charles Leclerc at Ferrari. After spending almost 11 years with Merćedes, Hamilton felt that “the time is right for me to take this step and I’m excited to be taking on a new challenge.” Following this, the Daily Mail reported interesting developments on Hamilton’s demands, shedding light on the chaos that was brewing behind the scenes.

It was rumored that Hamilton was demanding a lengthy five-year deal plus an additional $250 million commitment that would be broken down into $25 million each year for 10 years in the role of a brand ambassador until 2035. However, Mercedes wasn’t ready to commit to such a deal for an extended partnership with the 7-time world champion.

John Elkann got Lewis Hamilton covered

John Elkann, the president of Ferrari and a long-time admirer of the 7-time world champion saw this as a huge opportunity to champion Hamilton’s cause and wanted to make him the ambassador at Ferrari instead. And this gave Hamilton all the encouragement he needed to consider leaving Mercedes in the first place.

According to a recent tweet, Elkann has put forward a substantial $400 million investment plan in Lewis Hamilton’s ongoing projects, including the renowned Mission44 initiative.

This cements Ferrari’s commitment and their desire to align with Hamilton’s off-track ventures while securing his services on the race track in a multi-year contract.

In a statement on the Mercedes website, Hamilton said: “I have had an amazing 11 years with this team and I’m so proud of what we have achieved together.” He further added, “Mercedes has been part of my life since I was 13 years old. It’s a place where I have grown up, so making the decision to leave was one of the hardest decisions I have ever had to make.” However, after spending 11 years with Mercedes, he is all girded up to join forces with Ferrari.

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Ferrari scored where Mercedes failed to support Lewis Hamilton

Hamilton decided to quit Mercedes because he felt like Ferrari seemed to be more in the ascendency than Mercedes when sweeping new aerodynamic and power unit regulations were introduced. However, after 2024, Carlos Sainz will leave the Ferrari roster. Nevertheless, the Italian manufacturer is willing to help Hamilton do the things he wants to do beyond the tracks. Although there was some initial resistance from Ferrari to his proposal, the negotiations evolved into a mutual interest in a partnership that caters to not only Hamilton’s role on the track but also his impact off it.

The potential joint investment fund with Exor could contribute 250 million euros to Hamilton’s future projects on top of his compensation for his on-track services, making his total deal with Ferrari an astonishing 400 million euros. And to top it all off, John Elkann is more than willing to accept Hamilton’s idea of becoming a brand ambassador at Ferrari.

Read More: F1 Rumor: Lewis Hamilton Earning More Than $100 Million a Year in Ferrari Deal, Reports Say