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Formula 1 Drivers Salaries & Contracts 2023

Formula 1 Drivers Salaries

Formula One World Championship 2023 will take place on 5 march, 2023. Bahrain will host the opening Grand Prix on March 5 & the season’s closing Grand Prix on 26 Nov 2023. The number of Grand Prix will increase to 23 for the 2023 F1 season.

The teams for the F1 2023 season have released their roster of drivers. After 2022’s final race, Sebastian Vettel announced his retirement. Formula 1 drivers’ salaries for the 2023 edition have been revealed.

Formula 1 Drivers Salaries 2023

Drivers Team Wage Per Race Salary Contract
Lewis Hamilton Mercedes $1.8m $40m 2023
Max Verstappen Red Bull Racing $1.1m $25m 2028
Charles Leclerc Ferrari $454k $10m 2024
Valtteri Bottas Alfa Romeo-Ferrari $545k $12m 2023
Fernando Alonso Aston Martin-Mercedes $1m $22m 2023
Zhou Guanyu Alfa Romeo-Ferrari $22k $500k 2023
Nyck de Vries AlphaTauri-Red Bull $14k $300k 2024
Yuki Tsunoda AlphaTauri-Red Bull $22k $500k 2023
Esteban Ocon Alpine-Renault $113k $2.5m 2023
Peirre Gasly Alpine-Renault $68k $1.5m 2023
Lance Stroll Aston Martin-Mercedes $90k $2m 2023
Carlos Sainz Jr Ferrari $363k $8m 2024
Nico Hülkenberg Haas-Ferrari $325k $7m 2023
Kevin Magnussen Haas-Ferrari $136k $3m 2023
Oscar Piastri McLaren-Mercedes $22k $500k 2026
Lando Norris McLaren-Mercedes $113k $2.5m 2025
George Russell Mercedes $550k $12m 2024
Sergio Perez Red Bull Racing $450k $10m 2024
Alex Albon Williams-Mercedes $60k $1m 2024
Logan Sargeant Williams-Mercedes $17k $400k 2024

New Drivers in Formula 1 2023 Season

Although both Logan Sargeant & Nyck de Vries have been working since 2022. These two drivers have not yet competed in a race. There is a possibility that both drivers this year will compete in races because some racers have ended their contracts.

Drivers Who Leave the Formula 1

Sebastian Vettel has leaves Formula 1 in 2022. With mutual consent, Daniel Ricciardo ended his contract, which was set to expire in 2023. After three seasons with Williams, Nicholas Latifi quit the squad. Mick Schumacher ends his two-season contract with Haas F1.

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Highest-Paid Drivers in Formula 1 2023

The ranking of the highest-paid drivers still has Lewis Hamilton in first place. He has a $40 million deal with Mercedes F1. In the 2023 season, he charges $1.8m per race.

Max Verstappen is the 2nd most expensive driver in F1 that his contract with Red Bull Racing. He is now paid $25 million a year & $1.1m wage per race.

The 3rd highest-paid driver in F1 is Charles Leclerc that has a contract with Ferrari till 2024. He will receive a $10m salary and $454k per race wage.

Aqeel Ahmad
the authorAqeel Ahmad
Aqeel Ahmad is a passionate sports fan who enjoys reading and writing about the most recent sporting events taking place all around the world.

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