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Ferrari shares rose more than 12% on Wall Street due to the arrival of Hamilton

Ferrari shares rose more than 12% on Wall Street due to the arrival of Hamilton

The seven-time Formula One world champion Lewis Hamilton will join the Ferrari team in 2025 on a multi-year contract, the Italian team announced on Thursday. For this reason, the company’s shares listed on Wall Street soared up to 12.5%. It also increased the market capitalization by almost US$7 billion.

Ferrari’s announcement came a few minutes after Mercedes said itThe 39-year-old pilot He had activated a release clause and will leave the team at the end of the 2024 season.

“Scuderia Ferrari is pleased to announce that Lewis Hamilton will join the team in 2025, on a multi-year contract,” the team said in a brief statement.

The 39-year-old Briton will take the place of the Spanish Carlos Sainz and will race alongside Charles Leclerc in search of giving the Italian team a world champion for the first time since the German Sebastian Vettel will leave in 2020.

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Ferrari’s announcement came just minutes after Mercedes said the 39-year-old had activated a release clause.

Reuters

“I have spent 11 incredible years with this team and I am very proud of what we have achieved together. Mercedes has been part of my life since I was 13 years old,” Hamilton said in a statement before Ferrari’s announcement. “It’s a place I’ve grown up in, so making the decision to leave was one of the hardest I’ve ever had to make.”

“But the time has come to take this step and I am excited to face a new challenge“he added.

Hamilton said he wanted to finish his time in Mercedes at the top and that he is “100% committed to delivering the best performance he can this season.”

Hamilton’s arrival at Ferrari

The British driver, who joined Mercedes in 2013 and won his first title with McLaren in 2008, had been linked to Maranello repeatedly throughout his career, especially when his contract was up. pending renewal, but signed a new two-year deal with Mercedes in August.

Despite his loyalty to Mercedes, Hamilton has remained close to the Ferrari boss, Fred Vasseur, after winning the Formula Three and GP2 (now Formula Two) championships with the Frenchman’s ART team as a junior in 2005 and 2006.

Vasseur revealed last August that he spoke to Hamilton every race weekend.

In 2019, Wolff claimed that Hamilton and Mercedes had discussed the possibility of the driver one day racing for Ferrari and that such a move It wouldn’t be a drama.

Hamilton is the most successful F1 driver of all timewith a record of 103 wins and 104 pole positions in a career that began in 2007, but has not won a race since December 2021.

Max Verstappen He has won the last three titles and enters 2024 as a favorite for a fourth. The 26-year-old Dutch driver has a contract until the end of 2028.

Sainz confirmed his departure from Ferrari

Later on Thursday, Sainz confirmed his departure from Ferrari.

“Following today’s news, Scudería Ferrari and I will no longer be together from the end of 2024. We still have a long season ahead of us and, as always, I will give everything for the team and for the Tifosi around the world. We will announce news about my future in due time,” said the Spaniard in a statement published on his social networks.

Source: Ambito

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