According to team principal Frederic Vasseur, Ferrari needs to make minor modifications in every area to close the gap with Red Bull Racing in Formula 1. Red Bull’s overwhelming domination in the current season has been emphasized by its wins in each of the first 12 races. With talented drivers like Carlos Sainz and Charles Leclerc on board, there is a narrow possibility that the 2023 campaign might be a fruitful one for the Scuderia team.
Carlos Sainz’s current agreement is set to terminate by the end of the 2024 season, which gives him only a little more than 18 months left on his present contract. His future with the team will likely be resolved before the end of the current season, according to Vasseur. The Ferrari chief told the media, “We have 18 months to discuss, and we want to start next season with a clear situation with our riders. However, we are completely on the same line of thought with Carlos and the management of him, and we will talk soon.”
Vasseur on contract renewal talks with Carlos Sainz:
“[With Carlos], we are in line.
We have a lot of time available to discuss. There are still 18 months of the contract ahead of us.
On both sides we want to start next season with a clear situation, and this means that we… pic.twitter.com/2MUgVo8Gr6
— tami. (@Vetteleclerc) August 23, 2023
The Spaniard has made clear that he is not interested in playing an assistant to Charles Leclerc and instead focuses on establishing his long-term presence in the team. Notably, Sainz has been closely linked with the upcoming 2026 Formula 1 debut of Audi, which were mere rumors and the driver cleared out the air on the matter.
How much does Sainz earn from his Ferrari deal?
Carlos Sainz took on the daunting task of succeeding Sebastian Vettel, a four-time world champion who retired in after the 2022 season when he signed for Ferrari. But the driver’s excellent racing skills, which he demonstrated when driving for McLaren, Renault, and Toro Rosso, served foster faith in Ferrari’s ranks. As a result, the Scuderia Ferrari made Sainz an offer that obviously represented the pinnacle of his professional career.
Carlos Sainz claims victory at the inaugural Stoke Grand Prix – the first race in F1’s new RBNA (Red Bull Not Allowed) competition pic.twitter.com/auMUuCrKTH
— Fake Showbiz News (@FakeShowbizNews) August 20, 2023
Additionally, he signed a deal for two years in 2020 that can be considered to be somewhat modest. In 2022, this contract was extended by a few years and the agreement has a total projected value of $25 million.
Although this amount may be little in contrast to his teammate Charles Leclerc’s salary, it constituted an enormous rise for Sainz, who had made $7 million while working for McLaren. He now earns $12 million per year as of 2023; this sum is expected to increase all through the seasons to come.
Sainz is in seventh place overall in the Drivers’ Championship standings at the moment. Although Ferrari’s performance over the span of the season may not have sufficiently reflected their financial diligence, Sainz’s collaborative approach inside the team, his ability to offer careful insights and his strategic contributions during races have all been valuable in the context of the 2023 season.