After helping McLaren to a constructor's championship in 2024, Oscar Piastri was rewarded with a multi-year contract worth nearly $26 million per year, according to Racing News 365. The new deal replaces Piastri's contract that ran through 2026 and was set to pay him over $7 million per season.

McLaren announced a new “multi-year” contract extension with Piastri on Tuesday, days before the 2025 F1 season begins at his home race, the Australian Grand Prix. Piastri’s contract was due to run out at the end of the 2026 season, but now both he and Norris will be with the team through 2027.

McLaren have re-signed Oscar Piastri on a new contract extension, two full seasons before his current deal was due to expire.

Details of Oscar Piastri's McLaren contract emerge that will make him one of the highest-paid F1 drivers on the 2025 grid

Oscar Piastri has signed a “multi-year” contract extension with McLaren. The F1 team made the announcement five days before the first race of the new season at Piastri’s home Australian Grand Prix.

Piastri’s performances last season led to rival teams potentially wanting to make a play to lure him away from McLaren. Naturally, the team’s CEO, Zak Brown, would have been eager to tie the two-time Grand Prix winner down, irrespective of the financial implications.

Formula One champions McLaren have secured Oscar Piastri for the long-term after announcing on Wednesday a multi-year contract extension ahead of the 23-year-old driver's home Australian grand prix.

Oscar Piastri has committed his long-term future to McLaren after signing a multi-year contract extension with the British Formula 1 team beyond 2026.