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.

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

In the weeks before the inaugural Las Vegas Grand Prix, back in October of 2023, McLaren CEO Zak Brown looked me square in the eye and made a straightforward declaration about the team’s driver pairing of Lando Norris and Oscar Piastri.

To ward off interest from its Formula 1 rivals, McLaren will shell out a massive $20 million a year to Oscar Piastri with his new deal, according to a report. Piastri’s former deal was approximately worth $6 million a year and ran until the end of 2026.

Formula 1 driver Oscar Piastri is now signed with McLaren's F1 team beyond 2026, locking up the team's driver lineup for the near future.

Originally published as Australian driver Oscar Piastri signs fresh multi-year extension with F1 powerhouse McLaren

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.

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.

McLaren star Oscar Piastri has opened up on the prospect of severe weather disrupting the upcoming Australian Grand Prix. The 2025 Formula 1 campaign gets under way in Melbourne this weekend, where Max Verstappen will begin his bid to win a fifth consecutive world drivers' title.