Forbes recently released their list of the world’s highest-paid athletes in the world. Despite living a lavish life and earning a ‘yacht-load’ of money, only two Formula 1 drivers have made the list. Unsurprisingly, it’s the two biggest stars from F1, Max Verstappen and Lewis Hamilton. Maintaining the superiority over his ardent rival, the Dutchman beat the Brit.
The list calculates an athlete’s earnings from May 1, 2023, and May 1, 2024. With some sources of income kept under wraps, the estimation is calculated with the help of conversations with industry insiders. According to Forbes’ official explanation, the earnings are segregated into two aspects, on-field and off-field earnings.
The on-field earnings include prize money, salaries, bonuses, etc. Off-field earnings include sponsorship deals, appearance fees, and memorabilia and licensing income in the aforementioned timeframe.
Based on that, Formula 1’s reigning world champion Max Verstappen has amassed a whopping $81 million. He earned $76 million from on-field earnings and the remaining $5 million from his off-field activities. The Red Bull man’s earnings puts him at number 17 on the list which is 4 places higher than Lewis Hamilton. He beat his rival with a margin of $12 million as the Brit earned $69 million making him the 21st richest athlete in the world.
The seven-time champion made amassed $57 million from his on-field activities. However, off the field, Hamilton made $12 million. This year’s earnings battle seems like a convincing win for the three-time F1 champion. However, the scales will tip in Hamilton’s favor from next season onwards thanks to his mega Ferrari offer.
Lewis Hamilton will add millions to his on-field earnings after he completes the Ferrari move
Hamilton has been unable to capitalize on his race-winning bonuses in the past couple of seasons. Despite making the richest list in his limited powers, the 39-year-old will be able to raise his stock from 2025 onwards. The Italian outfit broke the bank to convince the seven-time champion to join their ranks.
They offered him the biggest contract in the sport’s history which extends beyond his racing duties. According to a report by Planet F1, the offer is in the region of $446 million. The mouthwatering sum includes his salary for the next two seasons which is north of $87 million.
Apart from that the offer also includes investment into Mission 44. Additionally, the CEO John Elkann also promised an ambassador role for his portfolio worth around $272 million.
The massive deal will make Hamilton easily the highest-paid driver on the grid. The investment in his charity and the ambassador role will also significantly add to his off-the-field activities. This alleged breakup of the deal highlights the extremely convincing financial aspect of his Ferrari move.
