Hamilton opens up on plans to remain in F1 ahead of 2023 season
Lewis Hamilton continues to earn more than Max Verstappen despite struggling at Mercedes in recent years. The seven-time champion earned more money than his former F1 title rival due to a series of lucrative off-track deals, according to Forbes.
It puts Hamilton at the summit for F1 earnings, but Verstappen is closing in on the 38-year-old after a stunning second crown last season. Verstappen is paid more at Red Bull than Hamilton is by Mercedes, with the Briton only making up the difference through extra deals away from racing.
Hamilton earned a total of £52million ($65m) in 2022, making him the 21st highest-paid athlete in the world. Meanwhile, Verstappen was just behind with total earnings of £51m ($64m) last year.
The Silver Arrows ace earns an estimated £44m ($55m) through his racing activities with Verstappen edging him out with a £48m ($60m) pay packet. But, Verstappen enjoys less lucrative sponsorship and branding deals as his stock in the sport is significantly less than Hamilton’s.
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The British legend earned £8m ($10m) from third-party work compared to just £3m ($4m) for Verstappen. However, both drivers’ total earnings were still higher than some of the biggest names in world sport.
The duo’s overall 2022 totals were more than former world heavyweight champion Anthony Joshua who picked up just £42m ($53m). It’s also higher than Manchester City star Erling Haaland (£42m) and NFL icon Tom Brady (£36m).
Hamilton could be set for a pay boost with his current Mercedes deal expiring at the end of 2023.
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The seven-time champion is thought to want a new “multi-year” deal and has pledged his allegiance to the German marque despite the team’s struggles. However, with no contract yet signed speculation has risen that he could be tempted to walk away.
Ahead of the season, Sky Sports pundit Simon Lazenby stressed money was no motivator for Hamilton at this stage of his career. Ahead of the Emilia Romagna Grand Prix, Wolff revealed the duo had talked about money in a series of “awkward” discussions.
He told ESPN: “Every three years we know that we have this moment. And it’s like negotiating financial terms with your best friend, with a close friend. How do you tackle that? Normally you don’t have such a situation. I want the best for him, but in that role I need the best for the team.”
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