F1 driver salaries: 2024 earnings and contract details for all 20 drivers
The 2024 F1 season gets underway in Bahrain this weekend and the Daily Express Sport US tells you all you need to know about the 20 drivers' yearly race earnings and contracts
The 2024 Formula 1 season got underway on Saturday with Max Verstappen dominating the field in an emphatic win at the Bahrain Grand Prix. Fans will be surprised to learn, however, that the Red Bull ace isn't the highest-paid driver on the grid.
This season is important because it will prepare for big changes in 2025. Many contracts will end after this season and Lewis Hamilton is moving from Mercedes to Ferrari. Carlos Sainz will depart the Prancing Horse at the end of the season when his contract expires.
Also, Sergio Perez's contract with Red Bull ends this year. Speculation suggests Red Bull might want to give three-time world champion Max Verstappen a new teammate in 2025.
Daniel Ricciardo could be that teammate if he does well at Visa Cash App RB. Fernando Alonso and Lance Stroll, who drive for Aston Martin, also have contracts ending this year. The same is true for drivers at Alpine, Stake F1, Williams, Haas, and Visa Cash App RB.
Hamilton signed a staggering £43m one-year extension, but turned down a second year with the team, heading instead to Ferrari. It's presumed that in 2025, his teammate will be Charles Leclerc who inked a contract of £29.9m, though the term hasn't been shared. Lando Norris has also secured a spot with McLaren, on a cool £15.5m per season deal.
As they kick off testing, many drivers aren't feeling great about getting one over on Red Bull and the championship hopeful, Verstappen. Alonso admitted to ruling out an upset on Verstappen's reign, claiming: "I don't have a crystal ball to know what the others are doing. I think Max is the world champion and Red Bull is dominating the sport. Also, the concept that they presented this year, it's also a surprise. At the moment, we just have to watch them and see how they perform. I think 19 drivers in the paddock now will think that [they] will not win the championship. It happens 99% of the time in your career. This is a brutal sport."
Express Sport US has compiled a list of how much each driver gets paid.
F1 driver in 2024 and contract details
Max Verstappen, Red Bull - £35.5annually - Expires 2028
Sergio Perez, Red Bull - £7.9m annually - Expires 2024
Lewis Hamilton, Mercedes - £43m annually - Expires 2024
George Russell, Mercedes - £3.1mannually - Expires 2025
Charles Leclerc, Ferrari - £29.9m annually - Expiry date TBC
Carlos Sainz, Ferrari - £6.2m annually - Expires 2024
Lando Norris, McLaren - £15.8m annually - TBC, beyond 2025
Oscar Piastri, McLaren - £2.3m annually - Expires 2026
Fernando Alonso, Aston Martin - £18.9m annually - Expires 2024
Lance Stroll, Aston Martin - £1.5m annually - Expires 2024
Pierre Gasly, Alpine - £3.9m annually - Expires 2024
Esteban Ocon, Alpine - £4.7m annually - Expires 2024
Alex Albon, Williams - £2.3m annually - Expires 2025
Logan Sargeant, Williams - £790,000 annually - Expires 2024
Yuki Tsunoda, Visa Cash App RB - £790,000 annually - Expires 2024
Daniel Ricciardo, Visa Cash App RB - TBC - Expires 2024
Valtteri Bottas, Stake F1 - £7.9m annually - Expires 2024
Zhou Guanyu, Stake F1 - £1.5m annually - Expires 2024
Nico Hulkenberg, Haas - £1.5m annually - Expires 2024
Kevin Magnussen, Haas - £3.9m annually - Expires 2024