Report: Oscar Piastri's new McLaren deal tops $25M annually

Field Level Media
13 Mar 2025, 03:29 GMT+10

(Photo credit: Gary A. Vasquez-Imagn Images)

After helping McLaren to a constructor's championship in 2024, Oscar Piastri was rewarded with a multi-year contract worth nearly $26 million per year, according to Racing News 365.

The new deal replaces Piastri's contract that ran through 2026 and was set to pay him over $7 million per season.

'It's a great feeling knowing that I'm part of McLaren's long-term vision,' Piastri said in a release. '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.

The 23-year-old Australia native won a pair of races in 2024 and finished fourth in the driver's standings with 292 points, while teammate Lando Norris was the runner-up with four wins and 374 points. Norris signed a long-term extension before the 2024 season.

The McLaren constructor's title ended a two-year title run for Red Bull and gave the team its first championship since 1998.

Piastri's deal comes just as F1 is set to open its 2025 season with the Australian Grand Prix on Saturday in his hometown of Melbourne.

--Field Level Media

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Australian Herald.

More Information

null in null

International

Section

World mobilizes assistance for quake-hit Myanmar

Myanmar earthquake death toll expected to rise

The death toll in Friday's massive earthquake in Myanmar has risen above 150, and is expected to rise significantly. Another nine people...

US boosts egg imports from Brazil amid bird flu spread

US turns to Brazil, other sources for eggs during bird flu outbreak

WASHINGTON, D.C.: In response to soaring egg prices and supply shortages driven by a devastating bird flu outbreak, the United States...

Trump pledges more nations will join Abraham Accords

Trump predicts more countries will be added to Abraham Accords

WASHINGTON, D.C.: U.S. President Donald Trump vowed this week that more countries will be added to the Abraham Accords, the series...

Japan’s cherry blossom season officially begins in Tokyo

Japan's cherry blossom season begins as first blooms appear in Tokyo

TOKYO, Japan: This week, Japan's cherry blossom season officially began as experts confirmed the first blooms in Tokyo. A specialist...

67,000 Seek U.S. Refugee Status Under Trump’s White Minority Plan

67,000 white South Africans favor Trump's plan for refugee status

CAPE TOWN, South Africa: The U.S. Embassy in South Africa said it received a list of over 67,000 people interested in refugee status...

North Carolina court allows suit over teen’s unapproved COVID shot

North Carolina court allows family to sue over unwanted COVID-19 shot

RALEIGH, North Carolina: North Carolina's highest court has ruled that a mother and her teenage son can pursue a lawsuit over a COVID-19...

Sydney

Section