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Oscar Piastri is reportedly set to earn a staggering £20 million in salary after signing a multi-year contract extension with McLaren. According to reports, thte Australian's new deal will see him earn the same salary as his teammate, Lando Norris.
The 24-year-old, who joined the Woking-based outfit in 2023, had his contract extended after just 15 races into the 2023 campaign, securing his place with the team until at least the 2026 season. Piastri, who has since repaid the faith shown in him by the McLaren hierarchy, recorded two Grand Prix victories and multiple podium finishes throughout the 2024 season.
Ahead of the start of the 2025 F1 season, Oscar Piastri has been rewarded with another contract extension. While the duration of the contract is not expressly stated, a report from AutoSport estimates his salary to be £20 million ($25 million). The report also highlights that his new contract puts him at par with Lando Norris, who has openly expressed his ambition to challenge for the 2025 drivers’ championship.
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Whether the improved salary offered to the Australian driver signals a subtle move toward equality within the team remains to be seen. For a large part of the 2024 F1 season, McLaren's hierarchy downplayed the importance of team orders before later giving priority to Norris' drivers' championship bid. How this salary raise for the former Alpine F1 driver affects their team dynamics will be one to watch as the season unfolds.
McLaren CEO speaks on Oscar Piastri contract
McLaren CEO Zak Brown shared his thoughts following Oscar Piastri’s new contract. The 53-year-old expressed his delight at extending the young Australian’s contract.
Speaking to the media, as quoted by Formula1.com, the McLaren team boss stated:
“It’s fantastic to confirm Oscar’s extension with McLaren. Not only is he an incredibly talented driver, but his work ethic and cultural fit within the team made it a no-brainer to extend his time in papaya.
“We’ve got the best driver line-up on the grid, and in the past two seasons, we’ve seen how much of an asset to the team Oscar is both on and off track.”
Detailing what appeared to be the rationale behind the Australian’s contract extension, Brown continued:
“He was absolutely fundamental in adding to our legacy with the 2024 Constructors’ Championship last season, so we’re all excited to see what we can do in the years to come as we continue to fight for World Championships together.”
Oscar Piastri, who has so far made 46 race starts and achieved 10 podiums since his entry into F1, will hope to add another race win to his impressive statistics when the 2025 season kicks off with the Australian Grand Prix.
