Huge Ferrari 'PROMISE' to Hamilton revealed in stunning F1 deal

Seven-time word champion Lewis Hamilton is set to receive funding for his various charitable projects as part of his lucrative Ferrari deal, which will reportedly see the Brit paid around £80 million.

The 39-year-old has opted to seek one more challenge in his illustrious career in Formula 1, teaming up with the most successful team in the sport from the 2025 season.

He will be hoping to win an unprecedented eighth world title with the Maranello-based team, as well as claim Ferrari their first title of any kind since 2008.

For Hamilton, it means ditching the Mercedes team that have helped him claim six of his seven world championships, and 82 of his record 103 race victories.

READ MORE: Wolff 'will try' SHOCK Verstappen move for Mercedes to replace Hamilton

READ MORE: Hamilton to Ferrari F1 switch leaves Leclerc 'shocked and disappointed'

Hamilton's mammoth Ferrari contract

Three-time world champion Max Verstappen recently agreed that he was earning more than Hamilton, a fact that is likely not to be true from 2025.

Reports from Italy suggest that Hamilton's new base salary will be around £80 million per year, while other endeavours may make the total package worth over a whopping £300 million.

READ MORE: Hamilton F1 mega-deal worth BILLIONS to Ferrari already

That's because of a Ferrari promise to invest in some of Hamilton's projects, including his Mission 44 project, which seeks to reimagine the future and empower young people from underserved communities.

Ferrari chairman John Elkann is known to share a good off-track relationship with Hamilton, and The Qualifier are reporting that the American was more willing to invest in the 39-year-old's endeavours than Mercedes.

"Elkann promises to embrace and champion Hamilton's diversity and inclusion initiatives, including Mission 44," they say.

"The potential joint investment fund with Exor could contribute $250 million 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."

READ MORE: F1 champion reveals Hamilton would have STAYED at Mercedes if key condition met

Related

More F1 news

Latest F1 news

Did George Russell escape FIA penalty at the Australian Grand Prix? F1 jump start rules explained

• 1 hour ago

Toto Wolff looking to block Christian Horner's F1 return - reports

• 3 hours ago

Hamilton's 'sharp tongue' and a tale of 'unforgiveable guilt' - Italian media react to the Australian GP

• Today 12:57

Lewis Hamilton will not retire until he races in this location

• Today 11:53

Lewis Hamilton got a cow and you will not believe what it is called

• Yesterday 22:55

F1 News Today: Lewis Hamilton will hold FIA accountable as new Mercedes evidence emerges

• Today 14:48