Breaking: F1 Prize Money 2024: How much will Max Verstappen and McLaren’s Lando Norris earn after…..read more

F1 Prize Money 2024: How much will Max Verstappen and McLaren’s Lando Norris earn after…..read more

In 2024, Max Verstappen secured the Drivers’ Championship, reinforcing his status as a leading figure in Formula 1, while McLaren triumphed in the Constructors’ Championship. Verstappen’s exceptional performance throughout the season was complemented by McLaren’s consistent results, allowing them to claim the prestigious title as the top team in the standings.

In Formula 1, the distribution of prize money is largely determined by the Constructors’ Championship standings. Teams that finish higher in the rankings receive a larger share of the overall prize pool. While drivers do not directly earn prize money for their individual race victories, they often receive performance-based bonuses. These bonuses can be quite significant and are typically linked to a driver’s success in races and their overall championship position.

In terms of salaries, Max Verstappen is the highest-paid driver for 2024, earning $55 million annually under his contract with Red Bull, which runs through 2028. His longtime rival, Lewis Hamilton, currently earns $45 million annually with Mercedes in what is expected to be his final season with the team before moving to Ferrari in 2025. It is anticipated that Hamilton’s earnings will rise to approximately $100 million annually once he joins Ferrari, including