Max Verstappen’s Manager With $11.7 Million Salary Could Be Earning More Than 12 Drivers on F1 Grid

Being the most dominant driver on the grid, it is no surprise that Max Verstappen is the highest-paid F1 star currently. He earns a staggering $55 million a year, and because of his success, his manager Raymond Vermeulen too, earns more than some F1 drivers.

According to renowned F1 journalist Kym Illman, Vermeulen earns anywhere between $8.5 million to $11.7 million. This is more than what 12 drivers on the grid get paid annually. The list of drivers includes the likes of Daniel Ricciardo, Valtteri Bottas, Esteban Ocon, Pierre Gasly, Oscar Piastri and Lance Stroll.

Illman said in his recent video on YouTube,

“Raymond Vermeulen and his company might be taking €8 to €11 million [$8.5-$11.7 million] a year.”

According to sources, Bottas earns $10 million annually from Sauber, whereas Ricciardo takes $7 million from V-CARB. The remaining 10 drivers are listed below Bottas and Ricciardo, with Logan Sargeant appearing at the bottom with a salary of $1 million.

Vermeulen, a fellow Dutchman, has been with Verstappen since 2015. They started at Toro Rosso, and have reached the top of the F1 world together, with Verstappen becoming a three-time world champion in 2023. Before he was Max’s manager, Vermeulen also represented his father Jos Verstappen. This makes the Vermeulen family very close to the Verstappens.

Raymond Vermeulen is also one of Verstappen’s most trusted advisors, and financially benefits from his client’s success on the track.

 

How does Vermeulen make money off Max Verstappen?

F1 drivers are some of the best paid athletes in the world. A huge part of their multi-million dollar salaries, however, go their managers/agents. Usually, 15%-20% is the yearly cut, depending on the contract, which is how Vermeulen makes money off Verstappen.

Managers negotiate to bring the best possible deal for a driver, and they include their percentage within that number. Therefore, Verstappen getting paid $55 million gives Vermeulen a huge piece of the pie.

https://t.co/Ga9eks3PwF NEWS: Raymond Vermeulen on Max Verstappen’s third title: ‘It’s unbelievable’ https://t.co/yhWOUx4s1B pic.twitter.com/rvwbpShzDl

— Max Verstappen (@VerstappenCOM) October 7, 2023

Managers are also in regular touch with the teams, to make sure their drivers are well represented. In other words, their off-track affairs that impact their stay in F1, are handled by managers like Vermeulen.

For now, Vermeulen’s estimated salary makes him the highest paid manager in the paddock. If Verstappen signs a contract that is more expensive, he could end up earning even more.