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Ferrari: Hamilton will earn $100M a year and also be a major strategic asset
Lewis Hamilton will leave Mercedes and join Ferrari for the 2025 Formula 1 season.
Hamilton's current contract with Mercedes was due to expire at the end of 2025 but he will depart the team after this season and replace Carlos Sainz at Ferrari.
The British driver activated a release clause in his Mercedes contract, and Ferrari confirmed on Thursday evening that the seven-time world champion is joining them on a "multi-year" deal.
Mercedes employees in Brackley were informed of the news earlier on Thursday afternoon before the official announcement from the team.
Charles Leclerc signed a new contract with Ferrari last week and will be Hamilton's team-mate at Ferrari from next year.