Top 5 most lucrative F1 driver contracts in the history of the sport

F1 is one of the most lucrative sports in the world currently and the drivers are some of the best-paid athletes in the world every year.

Since the first race in 1950, there have been many drivers who have been able to make a name for themselves in the sport but only a few have turned their popularity into lucrative contractive paychecks. Here are five drivers who have had the most lucrative contracts in history.

Michael Schumacher- Ferrari F1

The Ferrari F1 driver was the biggest name in the sport from 1994 to 2006 during which he won a record seven world championships. When he joined the Prancing Horses in order to get them back on top in 1996, Michael Schumacher was paid a whopping £91 million, as per SportsRush. The German driver was reportedly paid an eye-catching £22.75m a season.

Lewis Hamilton

The British driver is arguably the most popular driver on the grid and has several endorsement deals in his kitty. Racing for Mercedes, 38-year-old Hamilton has six world championships with the team. During his contract extension in 2021, it was reported that he signed a two-year deal with them worth £ 40 million a year, which is set to end in 2023.

Kimi Raikkonen

The Finnish driver was the hottest prospect in the sport in 2007 after he jumped to Ferrari from McLaren to replace Michael Schumacher. The Italian team splashed out a deal worth over £112 million for three years, with the aim of winning the championship. Kimi Raikkonen returned the favor by winning the driver's title in his first season while helping the team recapture the constructors in 2007 and 2008.

Sebastian Vettel

In a highly unexpected coup, Ferrari were able to take Sebastian Vettel out of Red Bull after his four world championships with them from 2010 to 2013. Ferrari offered the German a three-year deal worth £81 million in 2015. Although Vettel stayed with the team till 2020, he could not capture the elusive title with them.

Max Verstappen

After winning his maiden F1 title in Abu Dhabi with Red Bull, Max Verstappen signed one of the biggest contracts on the grid, a deal taking him till the end of the 2028 season worth $40 million each season. The new deal is paying dividends for both parties currently as they are dominating F1 right now, with no team challenging their winning run. He retired at the end of the 2022 season.