The economic issue of Formula 1 has been debated for several months and Mercedes, despite its six consecutive world championship titles, is no exception to this problem.
Ola Kallenius, Daimler’s new president, has stated that Mercedes Grand Prix is planning to continue in Formula 1 for a few more years.
The only condition would be to reduce certain expenses such as the salaries of its drivers.
Lewis Hamilton with his annual 40 million euros is particularly targeted, especially as he would like to increase his salary for the 2021 season.
In this perspective of cost reduction and given that the German team does not wish to part with its flagship driver, it was decided in agreement with its various partners, and in particular, Monster Energy, sponsor of both Mercedes and Lewis Hamilton, to increase their annual contributions in order to pay the salary of the six-time world champion.
Monster Energy was already paying a good part of Hamilton’s income (around 10 million euros each year).
This situation is reminiscent of what Ferrari experienced a few seasons ago, when it asked the Spanish bank, Santander, to fully manage the 30 million euros salary that Fernando Alonso was demanding at the time.
Lewis Hamilton, unlike his colleagues at McLaren, will not suffer any financial loss this year, despite the championship being put on hold. If all goes well, he is almost certain to increase his income next season.
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