Oscar Piastri extends $42M McLaren F1 deal until 2028

McLaren has secured a crucial component of its Formula 1 team by securing Oscar Piastri on a new multi-year contract extension, ensuring the Australian sensation remains in Papaya until at least the end of 2028.

The announcement comes just days before the highly anticipated season opener in Melbourne, where Piastri is set to begin his third year in F1 at his home Grand Prix.

Piastri, who joined McLaren in 2023 following a dramatic contract dispute with Alpine, has swiftly proven himself as one of the sport’s brightest young stars.

His sophomore season in 2024 saw him claim his maiden Grand Prix victory in Hungary before adding a second win in Azerbaijan, helping McLaren secure its first Constructors’ Championship in 26 years.

The 23-year-old also finished fourth in the Drivers’ Championship, demonstrating his rapid development and racecraft beyond his years.

“It’s a great feeling knowing that I’m part of McLaren’s long-term vision,” Piastri said following the contract announcement.

“The team had belief in me from the start, and the journey we’ve gone on over the past two seasons has been incredible. Winning races so early in my career has only made me hungrier to fight for the big prizes.”

McLaren CEO Zak Brown hailed Piastri as a key asset to the team, citing his raw talent, work ethic, and seamless integration within the squad as key reasons for the extension.

“Not only is Oscar an incredibly talented driver, but his attitude and cultural fit within the team made this decision a no-brainer. We’ve got the best driver line-up on the grid, and Oscar was fundamental in our 2024 title success,” Brown said.

The contract extension ensures McLaren’s stability at the top level, with Piastri and teammate Lando Norris both committed for the long term.

Norris, who finished runner-up to Max Verstappen in last year’s championship, extended his own deal until 2027, while Brown and team principal Andrea Stella have also re-signed with McLaren in recent months.

Stella emphasised the importance of continuity, saying, “Further extending our partnership with Oscar is a sign of our shared ambition to keep fighting for championships.

His talent, determination, and contribution to the team’s culture have been invaluable. Alongside Lando, we have the pieces in place for long-term success.”

McLaren heads into the 2025 season as the favourite to retain its Constructors’ title priced at $1.91 with BetOnline.

Piastri is seen as a legitimate title contender, with insiders praising his relentless rate of improvement.

His race engineer, Tom Stallard, remarked, “His learning curve hasn’t flattened at all. He keeps improving, keeps executing. If that continues, who knows what his limit is?”

With McLaren poised for another strong campaign, Piastri’s contract renewal signals his intent to chase championship glory in the coming years.

As he takes to the track in Melbourne this weekend, all eyes will be on whether the young Aussie can deliver a long-awaited home podium—or perhaps even a victory—to kickstart his 2025 title challenge.

The hometown hero is paying $7.50 with BetOnline to see the chequered flag first and $2.35 with top online bookmakers to secure a podium.

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