Charles Leclerc has extended his contract with Ferrari until at least 2024. The Monégasque racer beat his four-time world champion in his first season at the Italian team and really impressed in 2019.
Leclerc's five-year contract extension shows that Ferrari are backing the youngster and that perhaps, Sebastian Vettel's time as the number one driver at the team is over.
With the new contract, Leclerc is set to earn three times more than what he earnt last season, with a reported pay cheque of around $9 million per season coming in from next season.
Leclerc had been on a Ferrari academy contract, having driven for Sauber in his debut Formula 1 season. The academy contract was meant to run until 2022 but his worth has gone up so much that Ferrari had to secure him at the team or risk losing him.
Leclerc's manager, Nicolas Todt, negotiated the contract and with his future secure, Leclerc will hope to excel in the upcoming seasons.