Azernews.Az

by Alimat Aliyeva

Italian team Ferrari has become the first team in Formula 1 history to exceed an annual driver salary budget of over €100 million, AzerNEWS reports.

A key factor behind this milestone was the contract extension with Monegasque driver Charles Leclerc (the exact duration of the agreement has not been officially disclosed).

Ferrari does not publicly reveal financial details, but according to reports, Leclerc previously earned around €34 million per year. Under his new contract, his salary is expected to rise to approximately €50 million annually.

When combined with the earnings of seven-time world champion Lewis Hamilton, whose reported salary is around €60 million per year, Ferrari’s total spending on drivers now surpasses the €100 million mark.

For comparison, the second place in the unofficial ranking belongs to Red Bull Racing, where the total driver salary bill is estimated at around €75 million. The vast majority of that amount is attributed to three-time world champion Max Verstappen, whose earnings alone are believed to account for nearly €70 million.

Interestingly, this growing “salary race” between top teams reflects a broader trend in Formula 1: not only is on-track performance intensifying, but financial competition off the track is also reaching record levels. With new regulations and increasing global popularity, experts suggest that driver salaries could continue to rise, especially if rival teams attempt to close the gap with Ferrari and Red Bull in the coming seasons.