The rumoured eye-watering figures behind Piastri’s new McLaren contract
McLaren driver Oscar Piastri is competing in his third full season in F1 2025
Oscar Piastri’s new McLaren contract is worth an estimated ?20million per season and is set to tie him to the team until the end of the F1 2029 season, it has been claimed.
McLaren announced on Wednesday that Piastri has committed his long-term future to the team by signing a new contract ahead of the Australian Grand Prix, the opening round of the F1 2025 season.
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It comes after the 23-year-old played a key role in McLaren’s first Constructors’ title triumph in 26 years in 2024, collecting two victories in Hungary and Azerbaijan.
McLaren opted against specifying the exact length of Piastri’s new deal, describing it only as a ‘multi-year extension.’
A report by the Mail has claimed, though, that Piastri’s new deal is worth an eye-watering ?20million ($25.9m/€23.7m at current exchange rates) per season, with the arrangement set to last ‘until the end of the decade.’
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If true, Piastri’s new deal makes him the sixth-highest-paid driver on the grid according to figures estimated by PlanetF1.com, putting him ahead of Mercedes driver George Russell.
His previous deal is understood by PlanetF1.com to have netted him around ?16.9m ($22m/€20.1m) per season with his new contract said to contain so-called ‘accumulator clauses’, putting Piastri in line to receive significant bonus payments in the event of success on track.
Piastri’s team-mate, Lando Norris, is believed to earn around ?27m ($35m/€32.1m) per year under his existing deal, signed in January 2024 and understood to run until at least the end of the 2027 campaign.
In a statement released to confirm his new McLaren deal, Piastri said:?“It’s a great feeling knowing that I’m part of McLaren’s long-term vision.
“The team had the belief in me when we signed in 2022 and the journey we’ve gone on over the past two seasons to help return McLaren to the very top of the sport has been incredible.
“There are so many talented and special people working at MTC who have helped me to become a Formula 1 race winner very early in my career.
“Therefore, I’m very proud to be continuing to represent this legendary team for many years to come.
“I’m excited to fight for the big prizes as a McLaren driver and after last year’s fantastic achievements, it has made me even hungrier to stay at the sharp end.”
McLaren team principal Andrea Stella said:?“Alongside Lando, we have what we need locked in for the long term to keep pushing forward.
“I look forward to continuing to watch Oscar grow and develop as a driver and know that many successes lie ahead for him.
“Further extending our partnership with Oscar is a symbol of our belief and trust in him as a driver, as well as a reflection of our shared ambition to continue in our fight for Championships together.
“It has been a pleasure working with Oscar throughout the past two seasons and he has continued to prove how impressive he is in terms of his talent, determination, and work ethic as a driver and his contribution to our team and culture as a person.”
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Zak Brown, the McLaren chief executive, added:?“It’s fantastic to confirm Oscar’s extension with McLaren.
“Not only is he an incredibly talented driver, but his work ethic and cultural fit within the team made it a no-brainer to extend his time in papaya.
“We’ve got the best driver line-up on the grid, and in the past two seasons, we’ve seen how much of an asset to the team Oscar is both on and off track.
“He was absolutely fundamental in adding to our legacy with the 2024 Constructors’ Championship last season, so we’re all excited to see what we can do in the years to come as we continue to fight for World Championships together.”
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