Newey already signed $105 million Ferrari contract, reports say

Adrian Newey has reportedly signed a lucrative contract with Ferrari, according to English media.

The landmark deal, meticulously arranged by lawyer Dermot O’Rourke, was sealed prior to the Miami Grand Prix. The negotiations saw the involvement of key figures, including Maranello management and former team principal Eddie Jordan. Newey’s contract with Ferrari, worth an astonishing $105 million, will span until the end of 2027.

Currently, an official announcement from Ferrari is pending. Newey, however, has resigned from his role at Red Bull Racing, effective from April 30. As per English employment law, he is now on gardening leave, which can extend up to eight months. This period will prevent him from immediately joining Ferrari but ensures he will bring a fresh perspective once he is able to start.

RUMOUR 🚨| According to the Britain-based Business F1 magazine, Adrian Newey has already signed with Ferrari for 2025.

Newey is reported to stay with the team until 2027, and earn $105m over the period. pic.twitter.com/EzCzWTuA7A

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The intricacies of Newey’s exit from Red Bull are gradually coming to light. The Austrian faction of Red Bull, managed by the son of the late Dietrich Mateschitz, oversaw Newey’s resignation. Despite the significant impact of his departure, Red Bull team principal Christian Horner and Newey have entered into a non-denigration agreement. This agreement is designed to prevent either party from obstructing Newey’s future endeavors, despite the potential challenges it poses for Red Bull.

Horner’s acceptance of this agreement indicates the complex dynamics within Red Bull’s leadership. The Austrian faction’s influence appears to have been a decisive factor in Newey’s departure, but it is a move that could backfire.