Charles Leclerc signs new long-term Ferrari contract until end of 2024 season

Two-time race winner has signed a new long-term contract with Ferrari to triple his pay and secure ‘a firm future’ with the F1 front-runners

Charles Leclerc has agreed a new five-year contract to remain with Ferrari until the end of the 2024 season, with the 2019 Grand Prix winner rewarded for his form this season with a hefty pay rise.

The Monegasque was contracted with the Italian outfit through to the end of the 2021 season, but after securing two victories and 10 podiums in his first season with the team, he has been rewarded with a new deal to keep him out of the clutches of rival teams.

Leclerc outscored teammate Sebastian Vettel in just about every department, with his wins in Belgium and Italy outscoring the German’s sole victory in Japan and dominating him in qualifying with seven poles to Vettel’s two.

The move is a big show of faith from Ferrari in the 22-year-old to designate him as their spearhead for the next half-a-decade, given that four-time world champion Vettel is out of contract at the end of next season.

"I am very happy to be staying on with Scuderia Ferrari,” said Leclerc. “This past season, driving for the most illustrious team in Formula 1, has been a dream year for me.

"I cannot wait to enjoy an even deeper relationship with the team after what has been an intense and exciting 2019. I'm keen to see what the future holds and I can't wait to get going again next season."

It’s understood that Leclerc has tripled his salary from around £2.5m per season more than £7.5m a year, although that remains a slice of what his teammate takes home from his reported £30m-a-year deal.

Vettel is not the only driver who is out of contract next year, with Lewis Hamilton and Valtteri Bottas also seeing their deals up for renewal in 2020, with F1 set to introduce new regulations from 2021 that has caused a number of established drivers to delay making a decision on their future plans.

But Leclerc represents one of the next generation emerging alongside Red Bull’s Max Verstappen, and Ferrari team principal Mattia Binotto hailed the relationship that the team have forged with a driver who has been on their books for the last four years.

"With each passing race this year, our wish to extend our contract with Charles became ever more self-evident and the decision means he will now be with us for the next five seasons. It demonstrates that Charles and the Scuderia have a firm future together,” said Binotto.

"Charles has been part of our family since 2016 and we are more than proud of the results we are achieving with our Academy.

"We are therefore very pleased to be able to announce that he will be with us for many years to come and I'm sure that together, we will write many new pages in the history of the Prancing Horse."