In a surprising turn of events, rising star Oscar Piastri has secured a lucrative long-term deal with McLaren, reported to be valued at an astounding £20 million per season. This impressive contract is expected to keep the young dynamo at McLaren until the culmination of the Formula 1 2029 season.
The announcement of this hefty deal came on Wednesday, just before the Australian Grand Prix, the kick-off event for the F1 2025 season. This news echoes the growing anticipation surrounding Piastri, whose performance has been making waves in the racing world.
At only 23, Piastri has already played an instrumental role in McLaren’s triumphant return to form, helping them clinch their first Constructors’ title in 26 years in 2024. His remarkable skill was on full display with his victories in Hungary and Azerbaijan, proving his worth to the racing giant.
According to calculations by PlanetF1.com, Piastri’s new contract catapults him to the sixth position among the highest-paid drivers, even overtaking Mercedes’ George Russell. His previous contract reportedly earned him a cool £16.9 million per season. The new contract is also believed to include ‘accumulator clauses’, positioning Piastri for substantial bonus earnings for track successes.
In an official statement, Piastri expressed his excitement about being part of McLaren’s long-term vision, saying, “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.”
He went on to acknowledge the talented team at MTC that helped him become a Formula 1 race winner early in his career, and expressed pride in representing the legendary team for many more years.
Andrea Stella, McLaren team principal, shared his belief in Piastri’s potential, stating, “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.”
Adding to the accolades, McLaren Chief Executive Zak Brown lauded Piastri’s talent, work ethic, and cultural fit within the team, saying he was a “no-brainer” for an extension. Brown also praised Piastri’s invaluable contribution to the team’s 2024 Constructors’ Championship victory.
As we look forward to the unfolding of the F1 2025 season, one thing is clear: Oscar Piastri is a name to watch out for. His meteoric rise and McLaren’s continued faith in him signal a bright future for this young racer.