Why Is Red Bull Paying $60,000 a Day to Daniel Ricciardo for Not Driving and Only Show Up for Promotions?

In 2023, Red Bull re-hired McLaren’s outcast, Daniel Ricciardo. Though he didn’t get a starting driver role, he was given the seat of the third driver and an obligation to attend some promotional events by Red Bull. But in the F1’s history, he is the costliest driver ever without the drive. Ricciardo actually earns more than the drivers at Red Bull’s sister team AlphaTauri. So, this arrangement is more than just ‘good relations.’

As per Business F1, Ricciardo will get around $5-6 million for his ambassadorial work for over 100 days in 2023. That roughly makes $60,000 for every day he shows up for work.

So, in the new re-inventing market, where F1 teams are hiring former drivers or drivers without a seat (Mick Schumacher and Ricciardo) as ambassadors, why is there a need for this role? And why is a driver without a seat paid more than a sizeable number of active drivers on the grid?

The cost cap blessed Daniel Ricciardo

As per the source, Nick Thimm negotiated a deal for Ricciardo with Red Bull. And Thimm has played a pivotal role in several American sponsorships secured by the Milton-Keynes-based team. So, he was in a very advantageous position while negotiating a deal for Ricciardo with team principal Christian Horner.

Ricciardo is definitely one of the most popular names in every F1 household. At his peak, he was the third highest-earning driver, behind Lewis Hamilton and Sebastian Vettel, and after the ‘Drive to Survive’ series released by Netflix, his popularity only soared.

And with the cost cap, teams now have more money to shell outside the racing operations. With the marketing deals falling outside the jurisdiction of the cost cap, Business F1 claims this deal at this price became possible.

Seeking a drive in 2024

The deal between Red Bull and Ricciardo is only for this year. That’s because he plans to return to the sport by 2024. The recent developments showcase that he has a chance at AlphaTauri, with Nyck de Vries failing to live up to Helmut Marko’s standards.

Though, there are also murmurs of Sergio Perez getting replaced soon enough, as he is failing to defeat Fernando Alonso and Hamilton in a car much superior. But with Red Bull safe at the top in the constructors’ race, he is less vulnerable for Ricciardo’s liking.

Nevertheless, Ricciardo will have a three-day test at Silverstone with Red Bull. While it’s labeled as a tire test with the RB19, it could be more of a succession plan.