Lewis Hamilton move causes Ferrari stock price to skyrocket by $7 billion.
New York Stock Exchange reveals huge Ferrari finances amid Lewis Hamilton swoop. Ferrari’s stock price has increased by a value of $7 billion due to Lewis Hamilton’s move.
01 Feb 2024
James Dielhenn
Crash.Net

The Formula 1 was rocked on Thursday by unexpected news that Hamilton will join Ferrari in 2025. It is the most seismic driver switch since Hamilton swapped McLaren for Mercedes in 2013. Ferrari stock increased in value by 7% pre-market, after hours of talk about Hamilton, sports-business expert Joe Pompliano reported. He added: “The Mercedes F1 team received about 25% of all TV time during its championship-winning seasons, and its valuation increased from $400 million to $2.7 billion.”

Karun Chandhok, ex-F1 driver and Sky Sports broadcaster, earlier wrote: “The power of the Lewis Hamilton brand… “Ferrari’s share price has jumped 6% today - on a market cap of 66 billion, his news is worth $4 billion!” But the opening of the New York Stock Exchange on Thursday revealed the numbers had grown even further.

‘Ferrari stock price to skyrocket by $7 billion’;

https://www.crash.net/f1/news/104396...cket-7-billion


Ferrari confirm sensational Lewis Hamilton deal, uniting Formula 1’s most successful team and driver
1st February 2024, 7:06 pm
Connor Andrews
talkSPORT

Mercedes confirmed Hamilton’s departure in a statement which read: “Mercedes-AMG PETRONAS F1 Team and Lewis Hamilton will part ways at the end of the 2024 season. “Lewis has activated a release option in the contract announced last year.”

Commenting on the departure, Hamilton said: “I have had an amazing 11 years with this team and I’m so proud of what we have achieved together. “Mercedes has been part of my life since I was 13 years old. It’s a place where I have grown up, so making the decision to leave was one of the hardest decisions I have ever had to make.”

The Stevenage-born star won a race in each of his first 15 seasons in F1, but hasn’t been on the top step of the podium since 2021. Much of that is down to Mercedes fumbling the 2022 aerodynamic rule changes, with Hamilton publicly complaining about their development path on multiple occasions.

‘Sensational Lewis Hamilton deal’;

https://talksport.com/sport/1733583/


How Lewis Hamilton’s sensational move from Mercedes to Ferrari played out
01 February 2024
Lawrence Barretto
F1 Correspondent & Presenter
Formula One - Official Site

Last spring, sources say Lewis Hamilton received a call. It was Ferrari chairman John Elkann. This wasn’t completely out of the blue. Ferrari had come calling before – and Hamilton knew Elkann well. They had become friends following several meetings. When winter came and Ferrari came calling again, Hamilton gave it the respect he always did and analysed the pros and cons. This time he was more interested – and the chats were more formal. They got serious quickly.

Ferrari laid out their short to medium-term plan to Hamilton. They believe they are on the right path with development. They believe 2026 – when new regulations are introduced – can be the turning point and set them in motion to end their title-less run. They believe their new 2026 power unit, which will run 100% sustainable fuel, can be the class-leader – and they have form in this area.

Hamilton absorbed the information and a decision was made. In his mind, now was the time to take that leap of faith and race for the team all F1 drivers ultimately want to drive for. He signed on the dotted line, with everything finalised early this week, and he subsequently informed Mercedes of his decision to leave on Wednesday. The dye had been cast.

‘Everything finalised early this week’;

https://www.formula1.com/en/latest/a...BCezKBGZ7.html


Hamilton's given Mercedes a devastating vote of no confidence
Feb 1, 2024
by Edd Straw
The Race

Lewis Hamilton signing for Ferrari for 2025 without even having driven the Mercedes W15 in the real world or seen how the Formula 1 season starts in terms of performance is a devastating vote of no confidence in his current team.

Losing Hamilton to what would be a well-earned retirement is one thing, but to do so to a major rival that’s in broadly the same position as you in competitive terms is another. The inescapable conclusion is that what Hamilton has seen and experienced at Mercedes since committing to his current contract - perhaps both in terms of the continued erratic form in the closing stages of the season and preparations for 2024 - has given rise to some serious doubts. Perhaps something even more concrete than doubts.

We can’t rule out Hamilton having had a change of heart about this, but it seems more likely that he simply doesn’t believe Mercedes can give him the car he needs. If so, the worst that happens by moving to Ferrari is that he moves from one underachieving team to another - but with the bonus of living the Ferrari dream.

‘Devastating vote of no confidence’;

https://www.the-race.com/formula-1/l...xit-gut-punch/


Lewis Hamilton blindsided Toto Wolff with Ferrari move 24 hours before story broke
1 February 2024 • 11:54pm
Tom Cary
Senior Sports Correspondent
The Telegraph

Lewis Hamilton’s switch to Ferrari for 2025 came as a complete shock to Mercedes team principal Toto Wolff when the seven-time world champion broke the news at the Austrian’s home on Wednesday morning. Telegraph Sport understands Hamilton blindsided Wolff at a pre-arranged meeting at the latter’s Oxford home before Thursday’s official announcement sent Formula One into meltdown. It meant the Brackley outfit had to scramble to get their ducks in a row, calling a meeting of the team’s staff at 2pm when Wolff informed them of the driver’s intention to leave.

Wolff was understood to be completely taken by surprise when Hamilton told him on Wednesday that he intended to exercise it. The Austrian, who owns a third of Mercedes F1, only recently signed a new three-year contract extension himself, breaking the news in an interview with Telegraph Sport in which he said he was confident that Hamilton could win that eighth world title at Brackley.

‘Toto Wolff blindsided’;

https://www.telegraph.co.uk/formula-...025-f1-latest/


Will Hamilton’s second change of F1 teams prove as inspired as his first?
Formula 1
Posted on 1st February 2024, 19:09
Written by Keith Collantine

Lewis Hamilton’s move to Ferrari at the end of this year will be only the second time in a 19-year career that he has made a change. By the standards of most drivers, he’s been remarkably faithful to his teams. Looking back beyond Hamilton’s 11-year stint at Mercedes, past all those wins and championships, it’s easy to forget how big a gamble he appeared to be taking when he committed to them in September 2012. Seldom in F1 history has scepticism over a driver’s choice of team been so comprehensively dispelled by the reality of the move. As the trophies piled up around him at Mercedes, Hamilton has delighted in occasionally reminding everyone how many people told his he’d made a mistake by joining them.

Now, 12 years on, there are parallels between the two moves. The most significant is that, once again, Hamilton has made his move a year ahead of a complete overhaul in the technical regulations – not just chassis but power unit as well. That gives him time to bed into a new environment and be prepared to seize on whatever opportunities arise in 2026.

It’s hard to imagine any change of team would result in the kind of unprecedented success Hamilton has enjoyed in his Mercedes career. But a single title, avenging his lost crown of 2021, delivered for the passionate tifosi, would rank as a unique achievement in a career already replete with success. It’s not hard to see why, when presented with the opportunity, Hamilton took another brave and exciting decision which has stunned the F1 world.

‘Made his move a year ahead of a complete overhaul in the technical regulations’;

https://www.racefans.net/2024/02/01/...-as-his-first/