A new contract for Charles Leclerc would be “crazy,” according to Red Bull team principal Christian Horner, following reports that the Monaco star is nearing a deal.

This week, Gazzetta dello Sport revealed that the Ferrari player had inked a new contract that would last until 2029 and be paid almost £43 million a season by the later half of the lucrative agreement.

It follows after Ferrari chairman John Elkann declared recently that, despite having contracts that only extend through the conclusion of the 2024 season, both Leclerc and teammate Carlos Sainz are a part of the team’s long-term goals.

Although the Maranello-based club found it difficult to compete with the powerful Red Bulls in 2023, Fred Vasseur, the team’s manager, expressed optimism for the squad’s future in the near and long terms.

Horner cautions Ferrari

Leclerc’s contract expires in 2024, therefore Horner—who recently enjoyed a record-breaking season with his star driver Max Verstappen—may have been considering Leclerc as a possible Sergio Perez replacement. Perez is a struggling driver.But he doesn’t think that’s a realistic possibility, arguing Leclerc is a Ferrari man at heart.

According to statements obtained by Motorsport Week, he told Sky F1 that “it’s totally natural, he’s a great driver.”

“They’d be insane if they didn’t want to hold on to him, I’m sure.”