F1 News: Adrian Newey Signs $105 Million 3-Year deal After Shock Red Bull Exit

By | June 15, 2024

F1 News: Adrian Newey Signs $105 Million 3-Year deal After Shock Red Bull Exit

In a move that could reshape the competitive landscape of Formula 1, Red Bull chief technical officer Adrian Newey is reported to have secured a massive $105 million contract with an undisclosed rival team. Newey, who declared his resignation from Red Bull effective after the first quarter of 2025, has been a pivotal figure in the sport, contributing to 13 world titles during his tenure with the Austrian team.

Since announcing his departure, the motorsport world has been rife with speculation about Newey’s next destination. While teams like Mercedes, Williams, and McLaren showed interest, it is Ferrari that is rumored to be leading the race to secure his expertise, according to a report from Business F1 Magazine. Eddie Jordan, Newey’s close friend and manager, is said to have been instrumental in clinching this lucrative deal, potentially positioning Newey to spearhead Scuderia Ferrari’s Formula One design team.

This new agreement, reportedly inked just before the Miami Grand Prix, not only represents a significant 50 percent salary hike for Newey compared to his compensation at Red Bull but also outlines his terms over a three-year span from 2025 to 2027. The negotiations, managed by Jordan alongside Irish solicitor Dermot O’Rourke, were finalized during a signing event in London, UK on April 29. Reflecting the potent influence of Eddie Jordan in this transaction, he is expected to earn a $5 million commission from Newey for his negotiation efforts.

Adding an extra layer of intrigue to this move, there’s a strong indication that Newey’s shift will place him alongside seven-time champion Lewis Hamilton next season. Such a partnership promises to bolster not only Ferrari’s prospects but also could mark a significant phase in both Newey and Hamilton’s careers.

 

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