Ferrari as a team has become nearly synonymous with Formula 1. This team is the only one on the grid to have been part of the top racing competition since the inception of the championships. It has been successful through and through, with big names representing it throughout the decades, putting the team’s name on several records. And with Charles Leclerc and Carlos Sainz as its drivers, it has a few more chances to write its name in history.

But despite the legacy of the team, it hasn’t bagged the drivers’ championship since Kimi Raikkonen in 2008. And because of its belief that Charles Leclerc is the chosen one to bring it home, it offered the Monegasque the longest contract extension, lasting until the end of the 2024 season. But despite the two years remaining on his contract, there’s a sense of urgency and a task at hand for the new team principal: seal the next extension as soon as possible.

The teams do not want to take risks, and they play in advance and in the long run, and for this reason, in Maranello, the renewal of Leclerc is one of the points on the agenda. According to Motorsport.com, “In reality, Vasseur intends to lock down the Monegasque before next year to give stability to the team, following the example of Red Bull with Max Verstappen and McLaren with Lando Norris who have extended the agreements with their jewels.”

After 13 Hours of Labor, Charles Leclerc Confesses to Finally Overcoming Off-Track Fear

Starting in the summer, the official talks of an extension might begin between the driver and the team, and if the deal does go through, we can expect it to be a big one that comes with a big raise. And even if the raise doesn’t come, Leclerc shouldn’t be bothered much by it.

Challenges in Charles Leclerc’s contract extension

Negotiation with a pilot of Charles’s caliber always develops around two key points: the financial aspect and the technical guarantees, and this greatly restricts the potential alternatives that Charles could try if he decides to evaluate other scenarios. However, there is a threat that could complicate Scuderia’s plans, and it is the risk of Lewis Hamilton leaving the scene at the end of the 2024 season.

Leclerc is still relatively young, at just 25 years old, but he has already competed in over 100 Grand Prix races. He has witnessed the rise of Max Verstappen and would not want to be left behind by other drivers of his generation. It is not just a matter of money, as top teams can afford to pay their drivers well, but it is also about the technical opportunities available to them.

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WATCH THIS STORY: Charles Leclerc Gets Into Heated Debated With Max Verstappen Fan Over Dinner Time Conversation

If Vasseur and Ferrari can present a good offer and title-winning project for Leclerc in the coming time, the driver may feel compelled to sign. And if not, any team on the grid would love to have him as their driver.