With the checkered flag now past on the 2023 Formula 1 season, F1 teams and fans alike are already looking forward to 2024 and to see if anyone will be able to step up and slow the dominance of Max Verstappen and Red Bull.
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We start with the reigning Constructor’s Champion, Red Bull, who will be led by the formidable Dutchman Max Verstappen again in 2024. Verstappen has committed to Red Bull Racing until the conclusion of the 2028 season, making him arguably the most secure driver on the grid. The current F1 champion was almost unstoppable this year and solidified his commitment to Red Bull by signing a five-year extension in March 2022.
Rumours swirled over the future of Sergio Perez for most of the latter part of the 2023 season, but it seems that Red Bull have opted to stick with their Mexican driver, who has been handed a new contract that will see him remain in the team until the end of 2024.
Lewis Hamilton’s contract extension saga with Mercedes finally reached a resolution on the eve of the 2023 Italian Grand Prix. The seven-time World Champion announced that he will continue racing with the team until the conclusion of 2025, ruling out speculation that he could be seeking a move to Ferrari. Mercedes have retained the services of George Russell alongside Hamilton, which means that this partnership is set to remain unchanged through the 2024 season and potentially beyond.
Somewhat unsurprisingly, Charles Leclerc will be the main man at Ferrari in 2024 and will look to improve on the fifth-placed finish he managed this season. The Monacan signed a five-year contract with Ferrari back in December 2019, which tripled his pay and was the longest contract handed to an F1 driver at the time. However, it is believed that another contract extension could be on the cards with Leclerc being linked with Mercedes, Red Bull and Aston Martin at different points during this year.
Joining Leclerc on track is Carlos Sainz. The Spaniard signed a new contract with Ferrari during the 2022 season and is expected to remain with the team until the end of the 2024 racing season.
Aston Martin locked Fernando Alonso in with a multi-year deal which keeps the Spaniard in the iconic green livery until at least the conclusion of 2024. Alonso is entering his final year of racing in 2024 but the seasoned driver may reconsider retirement if Aston Martin continues its impressive performance trajectory.
While Lance Stroll’s contractual details remain undisclosed, it is difficult to see the 25-year-old going anywhere in the foreseeable future owing to the fact that his father, Lawrence, owns the teams that he currently drives for.
Following his rookie season, Logan Sargeant has retained his place at Williams, partnering with Alex Albon for the 2024 F1 season. Despite a tough 2023, Team Principal James Vowles believes Sargeant deserves another season to prove himself.
Scuderia AlphaTauri’s lineup boasts continuity, with Yuki Tsunoda and Daniel Ricciardo partnering for 2024. Liam Lawson was tipped to displace Tsunoda in 2024 but it seems that his stand-in performances weren’t enough to secure a full-time seat.
McLaren were quick to secure the services of their young talent, Oscar Piastri, until the end of the 2026 season. The Australian’s impressive performances and dedication led to a multi-year extension. After another progressive season, which included seven podiums, Lando Norris made a decisive commitment to his future with McLaren.
Zhou Guanyu signed a new contract with Sauber, continuing the team’s unchanged lineup for a third consecutive season alongside Valtteri Bottas, who is under contract until the end of 2024. Notably, with Alfa Romeo ending its title sponsorship, the team’s name for 2024 remains uncertain following Audi’s purchase.
Haas has chosen familiarity, deciding to keep both Kevin Magnussen and Nico Hulkenberg for the upcoming F1 2024 season. After experimenting with two rookies in previous seasons, namely, Mick Schumacher and Nikita Mazepin, the American team seems to have recognised the tangible benefits of collaborating with seasoned and experienced drivers.
Esteban Ocon reaped the rewards of his improved performance in 2021 as Alpine proved their faith in him, granting the French driver a three-year deal. Ocon’s compatriot, Pierre Gasly transitioned from AlphaTauri to Alpine in 2022 with a two-year contract and the option of a further year extension.