Formula 1 Driver Market for 2025

The driver market in Formula 1 involves the complex process of selecting, signing, and sometimes replacing drivers. Teams are perpetually on the lookout for talent that can provide a competitive edge. This process is not merely about hiring the fastest drivers; it encompasses assessing potential, experience, marketability, and the ability to work cohesively within the team structure.

In the current market for drivers to be approached for the 2025 Formula 1 season, many teams have completed their roster while some are still keeping their options open for current drivers on the grid to showcase their potential on the Formula 1 grid.

Red Bull

Max Verstappen

Currently, Max Verstappen is contracted to Red Bull Racing through the end of the 2028 Formula 1 season. This long-term extension was signed in early 2022 and represents one of the sport's most significant commitments. At the time of this agreement, Verstappen and Red Bull had forged a strong partnership and mutually acknowledged each other's confidence. As part of Red Bull's long-term plans, Verstappen is expected to play a central role in supporting the company's ambition to remain at the forefront of Formula 1 competition. But with the current form of Red Bull’s competitiveness so far in 2024, it is proving difficult to thwart McLaren and Ferrari.

Sergio Perez

Sergio Perez secured his place with Red Bull Racing until the end of the 2024 Formula 1 season. Following his impressive victory at the Monaco Grand Prix in May 2022, the Mexican driver signed an extension to his contract for a further two years. So far there have been no discussions of a contract extension but the Mexican Minister of Defence has made his intentions clear that he wants to remain with the Milton Keynes-based team for the 2025 season as their talks are underway.

Ferrari

Charles Leclerc

Charles Leclerc's contract with Ferrari extends beyond the 2024 Formula 1 season, signing a new agreement that sees the young Monegasque stay in red until the end of 2029. And according to the BBC, Leclerc’s new contract is set to be worth 50 million euros (£42.6 million), showcasing Ferrari’s confidence in the five-time race winner and their commitment to achieving success in the future of Formula 1.

Carlos Sainz

The 29-year-old Spaniard is out of contract at the end of the 2024 season after the announcement that Sainz will not be with the team in 2025 after signing seven-time world champion, Lewis Hamilton. Still feeling the conflict of not signing a contract with another team, however, sources from ESPN have discovered that teams such as Audi and Williams are interested in signing the three-time Grand Prix winner.

McLaren

Lando Norris

British driver Lando Norris recently reaffirmed his commitment to McLaren Racing by signing a new four-year contract extension in February 2022, which secures his position with the team until the end of the 2025 season. But after many rumours circulated amongst the paddock that Red Bull was interested in Miami Grand Prix winner, Norris chose not to pursue a career with the Milton Keynes team. As Norris confirmed with Sky Sports F1 in late February, that he has no regrets in staying committed to the Woking-based team. As to how long the contract extension is, remains unknown.

Oscar Piastri

Since the war between McLaren and Alpine, McLaren was able to seal the Australian driver to a two-year deal in 2022, that would allow Piastri to drive for McLaren up to the end of the 2024 season. However, in an impressive first season not only at McLaren but in Formula 1; Piastri was offered a four-year deal instead, securing the 2023 Qatar Sprint Race winner to the end of the 2026 season.

Mercedes

Lewis Hamilton

After the denial of his eighth championship in 2021, Lewis Hamilton’s run of form significantly diminished, with no wins in 2022 or 2023, the driver from Stevenage hopes to return to winning ways and in doing so sign a two-year deal with Ferrari in 2025. Lewis Hamilton’s announcement to move to the scarlet red team became the first domino to be knocked for the teams to begin solidifying their line-up of drivers heading into the 2025 season.

George Russell

2022 Brazilian Grand Prix winner, George Russell was brought on by Mercedes in the 2022 season on a long-term contract, to how long? There has been no official confirmation. However, according to Autosport, Russell’s contracts end in 2024. But during the 2023 season, Russell signed an extension with the Brackley-based team up to 2025; along with Hamilton who instead activated his release clause to exit Mercedes and join Ferrari at the end of 2024.

Aston Martin

Fernando Alonso

Mid-April, two-time world champion Fernando Alonso solidified his commitment to Aston Martin; extending his contract up to 2026 as he believes that the Silverstone-based team can become a ‘powerful team’ with the new regulations been introduced in 2026. Even though, the 32-time grand prix winner states this will be the last contract signing, hinting at a potential retirement at the end of the 2026 season.

Lance Stroll

During Lawrence Stroll’s takeover of Racing Point back in 2019, his son Lance has never had his contract disclosed to the public eye with no confirmation as to when his contract expires or when the Canadian driver signs a new one. But as long as Lawrence Stroll influences the Aston Martin Formula 1 team, we may see the Canadian driver at the Silverstone-based team for a few years to come.

Visa Cash App RB

Daniel Ricciardo

The ‘honey badgers’ story at Visa Cash App RB has been a rollercoaster of highs and lows. In 2023 Ricciardo was drafted to Red Bull’s sister team, Alpha Tauri on loan to complete the season as Alpha Tauri released young talent Nyck De Vries who wasn’t performing up to expectations. Although at the Dutch Grand Prix practice, Ricciardo suffered a severe wrist injury that put him out. Since returning to Hungary and completing the 2023 season, The Australian Grand Prix driver only achieved six points at the Mexican but could not consistently keep the run of form.

Having signed on with Alpha Tauri now named Visa Cash App RB, Daniel has not been able to match the speed of his younger team-mate Yuki Tsunoda. As the Australian driver is currently contracted to the Red Bull sister team until the end of the 2024 season, he needs to show he has the speed and ability he did while he did at Red Bull, which is the end goal, Ricciardo may be looking for a new team.

Yuki Tsunoda

In the last few seasons, Yuki Tsunoda has been promoted from Red Bull Racing's junior programme to the Formula 1 series and has been racing for AlphaTauri since the 2021 season. He had the opportunity to extend his contract in the years 2022 and 2023, and he repeated this action to cover his home round in 2024 as well. While Yuki is a formidable driver within the midfield fighting for points but lacks consistency and has had several crashes due to enforced errors. So, if Visa Cash App RB decide to keep the young Japanese driver, he needs to show that he can race cleanly. But the newly named team may keep Tsuonda on for another season as he is fighting for points to be on top of the midfield battle.

Haas

Nico Hulkenberg

In a multi-year contract, Hulkenberg is set to leave the American-based team and will be driving for Sauber in 2025, after which the team will be taken over by the German manufacturer Audi in 2026, after which the team will continue to be run with Nico Hulkenberg as the only known driver to be part of the Audi project.

Kevin Magnussen

In 2022 Kevin Magnussen was, at short notice, called back into Formula 1 by Haas at short notice, and was granted a multi-year deal by the team that was extended for 2024 when he was called back into Formula 1. So far this season Magnussen has operated as the team player to allow his German teammate to score points but has also upset drivers around him due to his behaviour on track. Will Haas choose to resign Magnussen? Potentially, as Haas has not got many replacements on their bucket list, so retaining the 2022 Brazilian Qualifying pole sitter would be logical.

Alpine

Esteban Ocon

As part of the extension of the contract with Alpine Formula 1, Esteban Ocon will be under contract until at least the end of the 2024 season. According to Alpine, this three-year extension was signed in June 2021, and it shows the company's confidence in Ocon's ability and their commitment to achieving long-term success in the sport for Ocon. As the 2024 season so far has been difficult for Alpine and Ocon, the French driver has shown their potential as he scored a point at the Miami Grand Prix. But has put his future in jeopardy after colliding with his teammate at the Monaco Grand Prix, diving up the inside of Turn 8, running wide and causing a collision with Gasly. A move that Alpine Boss said will have “consequences.”

Pierre Gasly

Pierre Gasly's contract with the Alpine Formula 1 team runs until the end of the 2024 season. He joined Alpine for the 2023 season, marking a notable shift in his career after spending several years within the Red Bull Racing ecosystem, primarily racing for AlphaTauri. Now at Alpine, the French man has achieved 62 points and one podium at the 2023 Dutch Grand Prix and is yet to score in 2024. While there are signs of potential for Ocon’s side of the garage, Gasly needs to prove he is worthy of an extension at Alpine or may have to sign for a lower team.

Williams

Alex Albon

The Thai driver, who was born in Britain, had previously been in talks with returning to Red Bull and linked to the Mercedes team. However, he has recently finalized an agreement to remain with Williams until at least the conclusion of the 2026 Formula 1 season. Albon believes in keeping with Williams, he can help and wants to play a pivotal role in their long-term project.

Logan Sargeant

In the current Formula 1 season, Logan Sargeant has been put into question about his future at Williams and within Formula 1. And at the 2024 season the American driver will be out of a drive and potentially out of Formula 1, but if Logan wants ‘to drive’ he needs to show he matches Albon’s speed and challenge the midfield for points. So far he’s failed to do so, putting his future aspiration within Formula in doubt.

Kick Sauber

Valtteri Bottas and Zhou Guanyu

As Kick Sauber will be rebranded to Audi in 2026, Planet F1 reports that the Audi Formula 1 team has already made a decision on the fates of Valtteri Bottas and Zhou Guanyu for the end of this season, since both drivers will be out of contract at the end of the 2024 Formula 1 season. As to who will retain their seat before Audi’s takeover, there is no confirmation as to who Kick Sauber will keep in their lineup to drive alongside, Nico Hulkenberg who is set to join Kick Sauber at the start of the 2025 season.

The driver market is a fundamental component of Formula 1, intricately linked to the sport's competitive and commercial dimensions. Teams must navigate a complex landscape of talent identification, experience evaluation, marketability assessment, and strategic planning. Each decision in the driver market can have profound implications, influencing not just team performance but the broader championship battle. Unfortunately, we still have to wait for some teams to conclude their lineups for the 2025 Formula 1 season.