McLaren Racing has boldly underscored its faith in the prodigious talent of Oscar Piastri, a pivotal player in the team’s recent return to the zenith of Formula 1 racing. The 23-year-old Australian driver, whose impressive performances propelled McLaren to its first Constructors’ Championship in over ten years in 2024, has signed a contract extension, securing his place in the team’s lineup for the foreseeable future.
In a testament to his rapidly ascending career trajectory, Piastri, who initially joined McLaren in 2023 from Alpine’s development program, has inked a deal that is rumoured to extend his tenure at McLaren until at least 2028. The contract extension, which was confirmed even though his original agreement was valid through 2026, is said to be a hefty one, worth an estimated £20 million ($25 million) annually. This substantial figure puts him on a par with teammate Lando Norris, making them among the highest-compensated drivers in the entire Formula 1 circuit.
Piastri’s rise to prominence has been nothing short of meteoric. His rookie season saw him swiftly evolve into one of the sport’s most reliable and awe-inspiring performers. Piastri’s Grand Prix victories in Hungary and Azerbaijan, complemented by multiple podium finishes, were instrumental in McLaren’s triumphant resurgence at the top of the Formula 1 hierarchy.
The young driver’s enthusiasm for the extended partnership with McLaren is palpable. “I’m thrilled to be part of McLaren’s long-term vision,” he expressed. “The team’s confidence in me since we signed in 2022, and our collective journey over the past two seasons to bring McLaren back to the pinnacle of the sport, has been an incredible experience. I’m eager to continue fighting for the top honours as a McLaren driver, and our success last year has only intensified my determination to remain at the forefront.”
The upper echelons of McLaren Racing are equally exuberant about Piastri’s extended contract. CEO Zak Brown lauded Piastri’s all-round impact, stating, “His exceptional talent, work ethic, and alignment with our team culture made the decision to extend his contract an easy one.” Team Principal Andrea Stella echoed these sentiments, adding that the decision is a testament to McLaren’s faith in Piastri as a driver and team leader.
Piastri’s stellar 2024 season, marked by his fourth-place finish in the Drivers’ Championship, two race victories, and his completion of every racing lap of the season, has positioned him as a rising star in Formula 1. His rapid acclimation to the sport, backed by McLaren’s robust technical and strategic support, has fans and industry experts eagerly anticipating his future performances.
As the 2025 season commences in Melbourne, Piastri’s hometown, the Australian driver is poised to hit the track with renewed vigour, bolstered by the full backing of the McLaren team. This combination of confidence and support is expected to fuel his continued ascent in the fiercely competitive world of Formula 1. This latest development strengthens McLaren’s long-term strategy, suggesting a sustained period of dominance, with Piastri and Norris at the helm.
