F1 stars’ dizzying salaries revealed with all 20 earning £205m a year and Lewis Hamilton and Max Verstappen leading way

FORMULA ONE drivers have long been known for their lavish lifestyles of rock and roll and splashing the cash.

The rising popularity of the sport since Liberty Media’s acquisition of it has only served to further inflate the pockets of the biggest names in the motorsport.

Getty

Getty

Altogether, the 20 drivers who make up the F1 grid earn around £205million a year, excluding bonuses.

But who takes the chequered flag when it comes to salary in 2024?

1) Max Verstappen – £42m

Reigning world champion Max Verstappen is head honcho both in terms of track pace and contract income.

The Dutchman has a staggering £42m a year going to him in his Red Bull deal.

2) Lewis Hamilton – £34m

Lewis Hamilton is undoubtedly the biggest name on the F1 grid, and more than makes up the gap to Verstappen in terms of sponsorship income elsewhere.

The Brit is in the last year of his Mercedes contract before he makes the switch to join Ferrari, which has seen him land a new bumper deal worth £50m a year .

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3) Charles Leclerc – £26m

The current poster boy of the Scuderia, Charles Leclerc , earns a cool £26m himself.

The Monegasque has won two races so far in 2024 – Monaco and Italy – and will be hoping Hamilton’s introduction will help push the team up the grid even more.

4) Lando Norris – £15m

McLaren ace Lando Norris is currently the closest challenger to Verstappen, and is realistically the only one who could nick the driver’s championship away from the three-time world champion.

However, the two-time race winner has some way to before he gets anywhere near Verstappen’s contract value.

5) Fernando Alonso – £14m

The two-time world champion is the main driver at Aston Martin, who have just signed legendary designer Adrian Newey down to a deal worth £150m .

For the time being though, Fernando Alonso is still search of his elusive next win in an F1 race.

6) George Russell – £14m

The man who will replace Hamilton as Mercedes main man, George Russell earns a cool £14m-a-year.

The Silver Arrows will be looking to the Brit to win races next season.

F1 2025 grid

Here are the confirmed driver line ups for the F1 2025 season so far:

Red Bull : Max Verstappen and Sergio Perez

Ferrari : Charles Leclerc and Lewis Hamilton

Mercedes : George Russell and Kimi Antonelli

McLaren : Lando Norris and Oscar Piastri

Aston Martin : Fernando Alonso and Lance Stroll

Williams : Alex Albon and Carlos Sainz

Sauber : Nico Hulkenberg and TBC

Alpine : Pierre Gasly and Jack Doohan

RB : Yuki Tsunoda and TBC

Haas : Ollie Bearman and Esteban Ocon

7) Sergio Perez – £11m

Sergio Perez has struggled at Red Bull in the last couple of seasons, and has consequently seen his place with the team come under question.

However, for now he remains the team’s second driver.

8) Carlos Sainz – £9.2m

Carlos Sainz is set to leave his £9.2m contract at Ferrari to join Williams after losing his seat next season to Hamilton.

He has one win so far this season, and will be hoping to add to his list while he still has Ferrari engineering behind him.

9) Valtteri Bottas – £7.7m

Former Mercedes star Valtteri Bottas likely has his race-winning days behind him.

But his more than capable racecraft at Kick Sauber F1 still sees him command a massive salary of £7.7m.

10) Daniel Ricciardo – £5.4m

Like Bottas, Daniel Ricciardo ‘s race-winning days are certainly behind him.

However, the Aussie remains a big name in the sport and can still pocket a huge £5.4m a year salary.

Complete F1 2024 race calendar – details on every Grand Prix and start time this year