After one of the most heated seasons in F1 history, Belgian-Dutch racing driver Max Verstappen has just snagged the world title – putting an end to Lewis Hamilton’s four-year streak with Mercedes. ᴡᴏʀʟᴅ ᴄʜᴀᴍᴘɪᴏɴ!!!! This is just unbelievable. I started racing with my dad many years ago. We dreamed of becoming a World Champion […]
After one of the most heated seasons in F1 history, Belgian-Dutch racing driver Max Verstappen has just snagged the world title – putting an end to Lewis Hamilton’s four-year streak with Mercedes.
The 24-year old Dutchman managed to steal the win during a high-stakes maneuver during the very last lap – leaving millions of fans at the edge of their seats. Here’s how it went down:
Along with title glory and national pride as the first-ever Dutch champion, Max’s personal fortunes have taken a major upswing – netting the champ a stunning amount of prize money.
With F1 itself predicted to earn over $1.5 billion this year, let’s take a closer look at its current champion’s earnings – as well as sponsorship deals and his total net worth.
Most of Formula 1’s finances are spearheaded by a British private equity firm, CVC. Under the current regulations, earnings are divided between two groups – the actual teams that participate, and the F1 group along with its shareholders.
The actual distribution system between teams is complicated, with decades of rules and regulations to follow. To keep it simple, you can assume that while each team’s take-home earnings aren’t made public, the amount is scaled depending on each teams’ drivers’ performance.
Once teams receive the money, they pay drivers based on pre-existing contract terms, plus a bonus. According to recent contract extensions with Red Bull Racing – Honda, Max is currently the world’s second-highest-paid F1 driver – his base salary sits at a considerable $25 million for 2021, beat out by Lewis Hamilton’s behemoth sum of $55 million.
Racking up all his win bonuses including the title win, Max is predicted to receive about $17 million in bonuses, making his earnings reach a figure of $42 million for the year.
Just to dig up racing’s greatest current rivalry, even Max’s amazing earnings pale in comparison to Lewis, who even in second place, will take home over $62 million.
Naturally, sponsorship and merchandising deals remain top secret for most public personalities – F1 champions are no exception.
We can, however, estimate a few details. For starters, millions of fans support the Verstappen cause through wearing orange merchandise – in tandem, Max has signed sponsorship deals with Jumbo Supermarkets, Ziggo, G-Star Raw, and Carnext.com – not to mention Red Bull.
On average, these deals have reportedly pulled in $1.1 to 2.2 million.
In summary, Max’s total net worth stands at an estimated 58 million dollars – an incredible sum considering that the champ is just 24 years old. No wonder fans are going ballistic at the moment – with such a great early record, perhaps we’re looking at the next GOAT after Hamilton’s decade of dominance.
Having joined the sport at the age of 17, Max has faced his share of naysayers and critics.
With a home in glitzy Monaco, several expensive roadsters in the garage, and a world title to his name, we’re sure that he’s got no reason to doubt himself anymore.
That is, unless he spots an angry silver-green blur in the rearview mirror.
With Hamilton letting a world-record 8 titles slip past his fingers on Sunday, we’re sure that Max’s first title-defending season will bring even more thrills, drama, and excitement to the pits. We certainly can’t wait!
(Image Sources: @F1, @FIA, @redbullracing)