In a seismic shake-up of the Formula 1 landscape, Ferrari has officially confirmed that Oscar Piastri will join the Scuderia on a blockbuster multi-year contract beginning in 2027. The announcement, made at a high-profile press conference in Maranello, revealed that Piastri will earn a record-breaking €45 million per year, surpassing even Lewis Hamilton’s previous F1 earnings. Ferrari’s bold move underlines their ambition to dominate the 2027 season and beyond, signaling a major shift in the balance of power on the grid.
Ferrari team principal Fred Vasseur, joined by chairman John Elkann, hailed Piastri as the future of the team. Vasseur emphasized that the contract was not just a deal but a statement of intent, with performance bonuses and equity stakes in Ferrari’s road car division potentially pushing Piastri’s annual haul past €50 million. Sources indicate a €200 million signing bonus, making this one of the most expensive talent acquisitions in F1 history since Michael Schumacher’s return in 1996.
The 24-year-old Australian, who dominated the 2025 season with McLaren, praised Ferrari’s history and prestige, saying the move fulfills a lifelong dream. His existing McLaren contract, extended to 2028, included a hidden exit clause triggered by championship contention and team tensions, which ultimately facilitated the move. Piastri’s transition to Ferrari represents both a personal milestone and a strategic coup for the Italian team as they prepare for major regulation changes in 2027.
Rumors of Piastri’s move had circulated since September, intensified by his dominant performances in Baku and speculation about Hamilton and Leclerc’s contract situations. Ferrari’s financial firepower, strengthened by a €1.2 billion IPO, ultimately secured the deal despite interest from Aston Martin and Red Bull. McLaren CEO Zak Brown expressed regret but acknowledged Piastri as a generational talent, highlighting the challenge of retaining top drivers amid the fierce competition for F1 supremacy.
Adding weight to the announcement, Charles Leclerc publicly endorsed Piastri’s signing, praising his composure, racecraft, and collaborative spirit. Leclerc and Piastri’s mutual respect on and off the track suggests a potential powerhouse partnership for Ferrari. With Leclerc committed through 2029, the duo is expected to lead Ferrari’s assault under the 2027 regulations. Fans and rivals alike are now bracing for a dramatic shift in F1’s competitive dynamics, with Piastri’s arrival signaling the Prancing Horse’s all-in gamble for glory.
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