![]() However, this only applies to ‘performance-related costs’. F1 driver salaries and the cost capįrom the beginning of the 2021 season, Formula 1 introduced a cost cap, designed to level the playing field across the teams’ finances.Įach team will be able to spend a maximum of $145million throughout the season. However, ex-driver Martin Brundle was quick to point out that salary estimates reported in the press were “rarely right”. For instance, when Lando Norris was handed a new two-year deal with McLaren in 2021, it was estimated the contract was worth £6 million per year. It’s easier to hammer out a contract if a teammate isn’t privy to the numbers being discussed.į1 drivers generally don’t boast about how much they’re paid, but that doesn’t stop the press from speculating. This is for numerous reasons, including contract negotiations. In the same way you wouldn’t necessarily publicise how much you earn at work, drivers and teams keep their cards close to their chest when it comes to wages. Why it’s hard to estimate F1 driver salaries Have surely recouped some of that cash in prize money. According to some reports, that was almost enough to bankrupt the team.īut given Lotus finished 4 th in the constructors’ championship in both seasons, they will He amassed 390 points in two years, accumulating a whopping €19.5 million in bonuses alone. He scored so many points, he finished 3 rd and 5th in the drivers’ championship in each of his seasons with Lotus. The Iceman scored a 2 nd place finish in just his fourth race with the team and went on to win two races during his time with the team. Lopéz wasn’t expecting the performances Kimi pulled out the bag. Kimi Raikkonen’s victory at the 2011 Abu Dhabi Grand Prix would have earned him a cool $1.25m in bonuses. So Lotus team boss Gérard Lopéz sweetened the deal, promising a €50,000 bonus for every world championship point scored during his two-year deal. It was a coup to nab a World Champion on his return to the sport, especially given Raikkonen was in negotiations with a seat at Williams. When he returned, he raced with Lotus F1 Team in its first season under that name. The Finn took a sabbatical from the sport in 2009. This might be where a driver receives a sum based on winning a race, scoring a certain number of points, or finishing above a certain position.Īn example of this would be Kimi Raikkonen’s return to Formula 1 in 2012. ![]() Contracts often include performance-based bonuses. Why F1 driver salaries depend on bonusesį1 drivers’ salaries are huge, but that’s not the entire story. When drivers post images on social media of their lavish homes, fast cars and hedonistic lifestyle, you can’t help but speculate how much they have in the bank. Typically, this information isn’t released by teams nor the drivers because, why would they?īut that won’t stop some from guessing.
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