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Formula 1 revenues continue to grow under the management of Liberty Media, the company that controls the most prestigious motor racing competition. They have gone from $2.573 billion in 2022 to $3.222 billion in 2023, to reach $3.411 billion in 2024. The increase in figures has been contributed by the number of Grands Prix, which has increased to 24, but also by the increase in sponsors.
Of this, 2.757 billion comes from the main activity, that is, from registration fees, television rights and sponsors. The remaining 654 million comes from the “Paddock Club”, licenses, support races, etc. The share of income for the teams was 1.266 billion dollars, then divided based on the position in the constructors' standings and other rewards such as historical ones and special statuses.
Among the drivers, Max Verstappen is the highest-paid driver, earning 50 million euros per year, 10 more than Lewis Hamilton, who is in second place in this ranking. Next comes Charles Leclerc, third with 30 million euros per season, making Ferrari the highest-paid team in Formula 1.
How much do Formula 1 teams earn?
Of the $1.266 billion distributed to the teams for the 2024 season, Ferrari won the most with $242 million in championship prize money, plus historic bonuses and special status. Next comes McLaren, which has benefited most from the constructors' championship title to reach the figure of $168 million. Red Bull and Mercedes, on the other hand, have fallen compared to 2023, with profits of $152 and $151 million respectively. The impact for these teams has also been their position in the constructors' standings, which has worsened in this case. Next come Alpine with $110 million, Aston Martin with $106, Haas and Williams with $90, Racing Bulls with $84 and Sauber, last, with $74 million.
Pilot salaries
The highest paid driver in Formula 1 in 2025 is four-time world champion Max Verstappen. The Dutchman from Red Bull's salary is 50 million euros per year. Second and third place go to Ferrari drivers, with Lewis Hamilton with 40 million and Charles Leclerc with 30 million, figures that make the Maranello team with the highest salaries for the pair of drivers in F1. Fourth place goes to Lando Norris with 20 million, ahead of Fernando Alonso who is paid 18 million euros per year. Next come George Russell with 14 and Oscar Piastre with 13 million. With 9 million euros per year we find Pierre Gasly from the Alpine team, ahead of Carlos Sainz with 7 million and Nico Hulkenberg with 6.5 million. They are followed by Esteban Ocon with 6 million, Alex Albon with 5, Lance Stroll with 3 and Yuki Tsunoda with 2 million. The ranking closes with this season's six rookies: 1 million per year in salary for Kimi Antonelli, Oliver Bearman, Liam Lawson and Gabriel Bortoleto, while the lowest paid are Isak Hadjar and Jack Dohan with 500 thousand euros each.
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