At the start of the season, the Dutch publication Racingnews365 compiled a new salary rating for 20 pilots. The rating for 2024, taking into account all the latest extensions, re-signings, transfers, and rumors, looks like this – we are talking specifically about contractual “guaranteed” (i.e., fees + non-monetary benefits and the most easily attainable bonuses) earnings from teams, without advertising and commercial deals. And you can place bets on who will come first to the finish line in the next race at Mosbet casino. There is also a large selection of slots and other gambling games.
The top 3 take half of the entire bank – $134 million
Max Verstappen (Red Bull): $55 million. He is the highest-paid driver with the longest contract (excluding bonuses and partnerships). The Dutchman has only a few personal partners: a huge brewery with the non-alcoholic brand Player 0.0 intersecting with esports, the publisher of the official F1 sim EA Sports, an ambassadorial role and main character of Dutch Viaplay, and a personal merchandise store with a multi-million turnover. This year, Max lost one of his long-term personal sponsors – the Dutch supermarket chain Jumbo exited the sport.
Lewis Hamilton (Mercedes). According to British press insiders, he signed a two-year contract for $63 million per season. He usually prefers deals without bonuses, with a basic salary and full control over his image and marketing activities – to increase income with additional agreements and deals.
Charles Leclerc (Ferrari). Leclerc is expected to finish the last season under the old contract for $34 million. Last year, the same source gave $36 million. Beyond number 16, he has already signed a new deal with Ferrari until 2029, with a presumed possibility of termination after 2027 and a fee increase to $54 million by the last season together. According to Forbes, in 2023, Ferrari only paid him $14 million in salary and $5 million in bonuses and marketing – as he has almost no external advertising earnings, as the Italian mega team usually doesn’t welcome such deals and tries to close all such activities within the team.
The top 4-10 have more modest salaries
Lando Norris ($20 million) renews or extends contracts with McLaren, but insiders have been estimating his deals for the past couple of years in the same range: from $18 to $25 million annually without bonuses, or up to $27 million with bonuses. Forbes estimates his prize money and bonuses at the same $10 million for 2023, and the full-fledged media empire of esports team, entertainment, and merchandise Quadrant could easily bring him a couple of million more. And this is without a single victory in F1.
George Russell ($18 million) has just signed a new two-year contract with Mercedes together with Lewis Hamilton and will remain the leader of the team.
Fernando Alonso in the previous year – the first season of the deal with Aston Martin – received a sudden evaluation of $5 million, which looked like an obvious “veteran” contract with large bonuses for achievements. However, the Spaniard signed a deal with a hybrid option scheme 1+1+1, where he activated the extension functions himself. In 2024, he continued to perform with the English team, and for 2025, he hasn’t decided yet – but with impressive results (8 podiums and 4th place in the overall standings), the growth and base fee look logical. Although Forbes estimated his earnings at $24 million in salary and $10 million in bonuses for 2023.
Sergio Perez enters the last year of the deal with Red Bull. Considering his results in 2023 and the start of 2024, an extension may not be expected. Perez’s task is to squeeze out everything possible from a financial perspective: to conclude as many sponsorship deals as possible and to receive as many bonuses and prizes as possible. According to Forbes, even in 2023, thanks to second place in the overall standings and two wins, he earned an additional $16 million.
Carlos Sainz ($12 million) is finishing the last year of his contract with Ferrari with prizes and bonuses of around $6 million in addition to his fee. He currently doesn’t have a new deal, and these conditions may become the best and most profitable of his career.
Valtteri Bottas also finishes his three-year lucrative contract as the team leader with Alfa Romeo for $10 million, signed immediately after leaving the factory Mercedes team after a dozen victories and sixty podiums.
Daniel Ricciardo received a non-standard contract from the Red Bull program with an advance for all marketing events for a bunch of new sponsors – Visa, Cash App, Hugo Boss, and Tudor (the sister brand of the elite watch Rolex). His salary has finally risen to the role of F1 top – previously his deals were always valued at less than $8 million, like almost any loudly proven young driver, however, still without a significant role in the team. Forbes estimated his bonuses for 2023 at $5 million, and George’s marketing earnings still directly depend on activities at Mercedes and the team itself.
