F1: Oscar Piastri Secures Lucrative McLaren Deal Worth Nearly $26 Million Annually
In a significant boost for both Oscar Piastri and McLaren, the Formula 1 star has signed a multi-year contract reportedly worth nearly $26 million per year. This new deal comes after Piastri played a crucial role in helping McLaren secure the constructor’s championship in 2024, marking the team’s first title since 1998.
The Australian driver’s new contract replaces his previous agreement, which was set to pay him over $7 million annually until 2026. Piastri, who joined McLaren in 2022, expressed his excitement about the long-term vision of the team in a recent statement, saying, “It’s a great feeling knowing that I’m part of McLaren’s long-term vision. The team had the belief in me when we signed, 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.”
During the 2024 season, the 23-year-old Piastri showcased his talent by winning two races and finishing fourth in the driver’s standings with 292 points. His teammate, Lando Norris, also had an impressive season, securing the runner-up spot with four wins and 374 points. Norris had signed a long-term extension before the start of the 2024 season, reinforcing McLaren’s commitment to its top drivers.
Piastri’s lucrative deal comes just in time for the opening of the 2025 Formula 1 season, which kicks off with the Australian Grand Prix in his hometown of Melbourne this Saturday.
