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"The Mercedes-AMG PETRONAS F1 Team and Lewis Hamilton will part ways at the end of the 2024 season. Lewis has activated a release option in the contract announced last August and this season will therefore be his last driving for the Silver Arrows.
"The news brings an end to what is currently a 17-year long relationship in F1 with Mercedes-Benz and an 11-year long partnership with the works team."
"In terms of a team-driver pairing, our relationship with Lewis has become the most successful the sport has seen, and that's something we can look back on with pride; Lewis will always be an important part of Mercedes motorsport history.
"However, we knew our partnership would come to a natural end at some point, and that day has now come.
"We accept Lewis's decision to seek a fresh challenge, and our opportunities for the future are exciting to contemplate.
"But for now, we still have one season to go, and we are focused on going racing to deliver a strong 2024."
Ferrari's share price made a big jump on the news so yes there is a money advantage to having Hamilton.How does the move benefit Ferrari, is it just PR? I don't think Hamilton is much better than Sainz, and surely they're paying him more?