Formula 1 shocked by sensational "transfer of the century"

British Mercedes driver Lewis Hamilton will drive for Ferrari in the 2025 and 2026 seasons, partnering with Charles Leclerc. The seven-time Formula 1 world champion has signed a new mega-contract worth £100 million.

The Sun called the transfer "shocking" and fans on social media dubbed it the "transfer of the century."

The 39-year-old Hamilton, who will play his last season with Mercedes in 2024, has named the Italian team as the best option to win a record eighth world title.

It's a blow to Mercedes boss Toto Wolff ahead of the new Formula 1 season, which starts in Bahrain on March 2.

"I have had a great 11 years with this team and I am so proud of what we have achieved together. Mercedes has been a part of my life since I was 13 years old. It is the place where I grew up, so the decision to leave was one of the hardest decisions I have ever made. But the time has come for me to make this move and I am excited to take on a new challenge. I will be forever grateful for the incredible support of my Mercedes family, especially Toto for his friendship and leadership, and I want to finish on a high together," Lewis said.

"We knew that our partnership would come to a natural end at some point, and that day has come," Wolf said.

Hamilton has always pledged his loyalty to Mercedes and Wolf. The latter, together with the team's chief engineer James Allison, recently agreed to extend the contract, which could be the last chance to convince Lewis to stay.

However, Hamilton decided to leave after two difficult years at Mercedes, where he hasn't won since December 2021.

When rumors of Hamilton's move to Ferrari surfaced, it triggered a staggering rise in the value of Ferrari's shares, which soared by more than £3 billion to reach a record high.

As a result of Hamilton's move, Ferrari co-driver Carlos Sainz will leave the team next winter and is being advised to join Audi, which will take over from Sauber.

"After today's news, Scuderia Ferrari and I will part ways at the end of 2024. We still have a long season ahead of us and, as always, I will do my best for the team and for tifosi around the world," the Spanish driver said.