Hamilton Overtakes Verstappen as Highest…read more
Max Verstappen has faced a financial setback in his ongoing rivalry with Lewis Hamilton as the British driver secures a record-breaking contract with Ferrari. The two Formula 1 titans have dominated the sport in recent years, sharing 10 of the last 11 world championships between them. Verstappen, the reigning champion, claimed his fourth consecutive drivers’ title in 2024, while Hamilton amassed six championships with Mercedes between 2014 and 2020, adding to his maiden title with McLaren in 2008.
Verstappen’s Reign on the Track
Verstappen, racing for Red Bull, was the sport’s standout driver in 2024, winning his fourth consecutive drivers’ championship. His dominance has established him as one of the most formidable talents in F1, with Red Bull’s unmatched performance and strategy playing a critical role in his success. Off the track, Verstappen was also the top earner in 2024, reportedly taking home $75 million, according to Forbes. This figure included a $60 million base salary and $15 million in bonuses, underlining his value to Red Bull and the sport.
Hamilton’s Record-Breaking Ferrari Deal
While Verstappen maintained his supremacy on the circuit, Lewis Hamilton has now claimed the title of the highest-paid driver in Formula 1. After parting ways with Mercedes at the end of the 2024 season, Hamilton signed a lucrative deal with Ferrari that significantly eclipses Verstappen’s earnings. Forbes reports that Hamilton’s Ferrari contract is expected to pay him more than $75 million annually, a new record for driver salaries. The details of Hamilton’s deal, while not fully disclosed, suggest a substantial increase from his previous earnings.
In 2024, Hamilton earned $57 million as part of his Mercedes contract, comprising a $55 million base salary and $2 million in performance bonuses. Although this placed him behind Verstappen in the financial rankings, his switch to Ferrari has reshaped the landscape. Ferrari, aiming to restore its dominance in Formula 1, appears to have spared no expense in securing the services of the seven-time world champion.
The Wider Financial Landscape in F1
Hamilton’s leap to the top of the earnings chart widens the financial gap between him, Verstappen, and the rest of the grid. The third-highest earner in 2024 was McLaren’s Lando Norris, who took home $35 million. This total included a $12 million base salary and $23 million in bonuses, reflecting McLaren’s upward trajectory and Norris’s growing reputation as a top-tier driver. Despite this, his earnings remain less than half of what Verstappen and Hamilton earned.
Other drivers on the grid lagged even further behind, highlighting the disparity in salaries among F1 teams. Hamilton and Verstappen’s immense marketability and sustained success on the track have kept them in a financial league of their own.
A Historic Rivalry Continues
The rivalry between Hamilton and Verstappen has been one of the defining narratives of modern Formula 1. Their fierce competition mirrors the legendary battles of past drivers and has kept fans captivated season after season. Hamilton, with his unparalleled experience and ability to perform under pressure, has consistently challenged Verstappen’s dominance despite Red Bull’s technical advantage. Meanwhile, Verstappen’s youth, aggression, and skill have made him nearly unstoppable in recent years.
With Hamilton now driving for Ferrari, the rivalry is set to enter a new chapter. Ferrari, the sport’s most iconic team, has struggled to recapture its former glory in recent years. However, Hamilton’s arrival brings renewed hope for a resurgence. The team’s investment in the British driver reflects its determination to return to championship-winning form.
Looking Ahead to 2025
As the 2025 season approaches, the financial and sporting stakes have never been higher. Verstappen remains the favorite on track, but Hamilton’s move to Ferrari and his new status as the highest-paid driver in F1 add an intriguing layer to their ongoing rivalry. Fans and analysts alike will be eager to see how Hamilton adapts to his new team and whether he can challenge Verstappen’s dominance.
While Verstappen’s record-breaking performances have solidified his legacy, Hamilton’s determination to succeed with Ferrari could set the stage for one of the most compelling seasons in Formula 1 history.
