Carlos Sainz has signed a two-year contract extension with Ferrari.

The deal, announced ahead of this Sunday’s Emilia Romagna Grand Prix – the first of two home races for the Italian team this season – will keep the 27-year-old with Ferrari until the end of 2024.

Sainz impressed in his first season for the Scuderia, beating team-mate Charles Leclerc in the standings.

But the Spaniard has been second best to runaway championship leader Leclerc after the opening three rounds this year.

Sainz, who spun out on the opening lap of the Australian Grand Prix a fortnight ago, already trails Leclerc by 38 points.

“I am very happy to have renewed my contract with Scuderia Ferrari,” said Sainz, who joined the Italian team last year following spells with Toro Rosso, Renault and McLaren.

“I have always said that there is no better Formula One team to race for, and after over a year with them, I can confirm that putting on this race suit and representing this team is unique and incomparable.

“My first season at Maranello was solid and constructive, with the whole group progressing together. The result of all that work has been clear to see so far this season.

“I feel strengthened by this renewed show of confidence in me and now I can’t wait to get in the car, to do my best for Ferrari and to give its fans plenty to cheer about.

“The F1-75 is proving to be a front-runner, which can allow me to chase my goals on track, starting with taking my first Formula One win.”

Ferrari have taken advantage of the change in regulations and boast the quickest machine with Leclerc winning two of the first three rounds.

Both Sainz and Leclerc, 24, now have contracts which run through until the end of 2024.

“I have said several times that I believe we have the best driver pairing in Formula One and so, with every passing race, it seemed a completely natural step to extend Carlos’ contract, thus ensuring stability and continuity,” said team principal Mattia Binotto.

“In his time so far with the team, he has proved to have the talent we expected from him, delivering impressive results and making the most of all opportunities.

“Outside the car, he is a hard worker with an eye for the smallest detail, which has helped the whole group to improve and progress.

“Together, we can aim for ambitious targets and I’m sure that, along with Charles, he can play a significant part in fuelling the Ferrari legend and will write new chapters in the history of our team.”