Ferrari’s value skyrocketed by over £3 billion after Hamilton’s announcement

Ferrari’s value has skyrocketed by over £ 3 billion following the news Lewis Hamilton is set to join in 2025.

The seven-time world champion has reportedly told Mercedes staff he will leave at the end of the 2024 F1 season.

It is understood he will then join Ferrari next year, partnering Charles Leclerc on the grid.

Following the news on Thursday, Ferrari's share price has increased by six percent, with their value rising by £3.16billion.

The Italian firm also announced their financial results on the same day the Hamilton news broke.

Growth in revenues and earnings was confirmed by Ferrari for the 2023 financial year.

Hamilton's potential arrival comes thanks to a break clause in the two-year deal he signed with Mercedes last season.

 The clause allows him to leave the team at the end of 2024, with Ferrari set to swoop for the British driver.

He is expected to replace Carlos Sainz at Ferrari and partner Leclerc next year.

Hamilton's exit will bring to an end an 11-year association with Mercedes, which began in 2013.

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During that time, he has won six world titles, including four in a row between 2017 and 2020.

However, he is without a race win since the 2021 Saudi Arabian Grand Prix.