A salary cap will be introduced in Formula 1 in 2023, when introduced teams will only spend $30m on their two drivers and one reserve driver.
However, before then, as a Formula 1 enthusiast ever wondered who are the highest-paid drivers in F1?
Formula 1 is one of the most lucrative and expensive sports that gives its athletes mouthwatering salaries when it comes to paying them handsomely for their impressive driving on the track.
Formula 1 Top 5 Highest Earners In 2022
Lewis Hamilton – (Mercedes Driver)
With Formula 1 heading into a new era in 2022 with new car regulations set to make the season one of the most interesting throughout the field, rather than just at the top and with the big teams alone.
Sir Lewis Hamilton arguably the ‘GOAT’ in F1 couldn’t win the Championship last year having lost it to Max Verstappen in a controversial manner, however, that doesn’t stop the Briton from racking in a lot of money.
Should Hamilton decides to keep racing and not retire even though his career isn’t clear yet, he will remain the highest-paid driver in 2022 with a base salary worth €35m.
Max Verstappen – (Red Bull)
The Dutchman is no doubt one of the best F1 drivers right now, having won the Championship last year despite it ending in a controversial manner.
Verstappen earns around €22m with Red Bull after his title-winning incurred a lot of bonus payments, which could take his final earnings to around €35m.
With Max Verstappen still in a huge frenzy for his title-winning performances last year, without doubt, his fans would obviously be expecting more success from the Dutchman this year.
Fernando Alonso – (Alpine)
Alonso one of the Formula 1 veterans is third on the list with €17.5m. The Spaniard may not have won the Championship for Alpine, but his experience will definitely come in handy for them especially with the new regulations in 2022.
The Spaniard has won 32 Grand Prix, 22 Pole Positions, and 1,899 points from 311 starts. He is currently the only Spanish F1 driver to have won either a Grand Prix or the World Championship.
He was so good that he won the 2001 Race of Champions Nations Cup with the rally driver Jesus Puras and the motorcyclist Ruben Xaus for team Spain.
Sebastian Vettel – (Aston Martin)
The year 2020 and 2021 was no doubt a tough year for the German who struggled with form and was axed by Ferrari in 2020 plus the fact that his 2021 campaign wasn’t anything to write home about.
However, with the new season very much upon us, Vettel will be hoping to hit the ground running once the season commences.
Despite not having a brilliant 2021, that didn’t affect the four-time F1 world champions earnings, and as such he is placed in fourth on this list with €13m.
Vettel and Aston Martin will hope this new season comes good for them on the track, despite his downward spiral in terms of form in recent years.
Daniel Ricciardo – (McLaren)
If there’s any driver that knows the meaning of perseverance, then it’s Daniel Ricciardo arguably one of the fast-rising F1 drivers now.
Ricciardo stunned the F1 world by ditching Red Bull after five years for a fresh start and a lucrative two-year deal at Renault which he sees as a difficult decision for him in an interview.
His move to McLaren one of the household names in F1 looks less of a risk with many thinking, that might aid him in fulfilling his dream as a professional driver but with that dream not yet a reality Ricciardo is one of the highest-paid drivers in F1 with €13m.
Formula 1 is a very lucrative and expensive sport with great and talented drivers running things on the track.
The above drivers may have been included in the list as the top five highest earners in the sport, however, for those who didn’t make the top five they can make the top 10.
Charles Leclerc – (Ferrari, €10.5m)
Carlos Sainz – (Ferrari, €8.5m)
Valteri Bottas – (Alfa Romeo, €8.5m)
Lance Stroll – (Aston Martin, €8.5m)
Sergio Perez – (Red Bull, €7m)