Lewis Hamilton, ‘a titan’ of Formula 1, has faced a costly reality over the past two seasons. With Max Verstappen securing his third consecutive championship title, Hamilton has had to forgo a significant financial reward—a bonus of £15 million for winning the World Championship, a feat that has eluded him since Verstappen’s rise.
The financial dynamics of Formula 1’s top drivers reveal that Hamilton, with an annual income of £27.5 million, stands just behind Verstappen in the earnings hierarchy. This remuneration, supplemented by a lucrative championship bonus, underscores the high stakes involved in their on-track duels.
Significant concerns over Mercedes aero department
A Rivalry Dimmed
The intense rivalry that peaked in 2021 between Hamilton and Verstappen has simmered down, with few direct clashes in recent times. Hamilton’s struggle to clinch the additional £15 million over the last two years is a testament to the shifting power dynamics within the sport.
The 2022 season marked a low point for Hamilton, culminating in a sixth-place finish despite consistent podium appearances. His performance in 2023 showed signs of improvement, with a chance to surpass Perez in the standings. Yet, Mercedes’ inability to match Red Bull’s pace has kept Hamilton from seriously contending for victories and the championship.
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Development Woes and Optimism
The unveiling of Mercedes’ new floor upgrade at the United States Grand Prix initially signalled a breakthrough, only for Hamilton to face disqualification due to a technicality. While the subsequent race in Mexico City demonstrated their competitive edge, the Brazilian Grand Prix laid bare the team’s shortcomings, with Hamilton expressing subdued hopes for closing the gap to Red Bull’s supremacy.
“I think, ultimately, all I can do is try to remain optimistic. The Red Bull I think is so far away. I think they’re probably going to be very clear for the next couple of years.” said a downbeat Hamilton following Brazil.
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Verstappen turns screw on Hamilton’s earnings
As the current season winds down, Verstappen’s stronghold on the championship title appears unshakeable. With Red Bull’s early pivot to the 2024 car’s development, the reigning champion is well-positioned to maintain his dominance, potentially prolonging Hamilton’s financial and competitive drought.
Lewis Hamilton’s monetary setback, a byproduct of Max Verstappen’s commanding presence in Formula 1, illustrates the intricate link between performance, rivalry, and financial personal gain in the sport.
As Hamilton and Mercedes regroup for the upcoming season, the quest for the championship—and the lucrative bonuses that accompany it—remains an elusive target in the shadow of Red Bull’s ascendancy.
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MORE F1 NEWS: Dramatic price fall for remaining Vegas F1 tickets/hotels
The much lauded F1 Las Vegas Grand Prix is now less than a week away and the preparations in the city are at fever pitch. The Culinary Union of workers appears to be negotiating a settlement which will prevent some 60,000 workers going on strike during the F1 weekend.
New five year contracts have been tentatively agreed with the largest group of these people, this who are employed by MGM though the Caesars empire is expected to…READ MORE ON THIS STORY
Hamilton is being far too defeatist or playing mind games. He finished just over a second behind Max in Singapore, should have won in Qatar if it hadn’t been that rush of blood to the head in turn 1, 2 seconds behind Max in Austin & 13 seconds behind Max in Mexico. His car is obviously very very quick (especially in qualifying) it’s just that he’s not extracting the maximum out of it like Max is with the RB19.