F1’s New Landscape: Parity Near Top, Hamilton’s 10th-Place Debut

A new era of Formula 1 began Sunday in Melbourne, and it reinforced the biggest shift from last year: Red Bull’s hold on monolithic F1 dominance is slipping.

Lando Norris and McLaren beat Max Verstappen and Red Bull by less than a second to win the Australian Grand Prix, marking the first time three-time defending drivers’ champion Verstappen hasn’t won the season-opening race since 2022.

Lewis Hamilton, who shocked the sport last year with his bombshell decision to move from Mercedes to Ferrari, finished in 10th place while debuting for his team, two spots behind his teammate Charles Leclerc. Hamilton’s annual earnings with Ferrari are reportedly projected to end up around $100 million.

McLaren, which ended Red Bull’s dominant run in the constructors’ championship last season, could have plenty of competition this season, as F1 may have the most parity it’s seen in years. Third- and fourth-place finishes for George Russell and Andrea Kimi Antonelli on Sunday earned Mercedes a total of 27 points, which ties them with McClaren in the team standings. McLaren’s Oscar Piastri finished ninth.

Big Season Ahead

The 2025 F1 season will have a record-tying 24 races across the world, including another three in the U.S.: in Miami, Austin, and Las Vegas.

In the U.S., F1’s media rights deal with ESPN is expiring, and a new broadcast contract for 2026 and beyond could be struck before the season’s end. Netflix is among the media companies exploring F1’s live rights.

Last month, F1 president and CEO Stefano Domenicali said that discussions with ESPN were still happening, even though the exclusive negotiation period between the two parties had passed.