The F1 money game just got a whole lot more interesting. Lewis Hamilton is reportedly on the verge of signing a massive contract extension with Ferrari that could reset the driver salary market all over again.
This comes hot on the heels of Max Verstappen becoming the highest-paid driver in F1 history. The Dutch star inked a four-year extension with Red Bull last week, reportedly worth a base salary of $107 million per season, with bonuses that could push the total past $500 million over the contract term.
Just a day before that, Carlos Sainz landed a multi-year deal with Williams worth around $30 million per season. That was a serious pay bump for the Spaniard.
Now all eyes are on Hamilton. Sources suggest his new Ferrari deal could be announced before the team’s home race at Monza in early September. The seven-time world champion currently earns about $60 million a year with the Scuderia, but after seeing Verstappen’s numbers, many argue he is now underpaid.
Hamilton is not just a driver at 41. He is a marketing powerhouse. Reports indicate he added $7 billion to Ferrari’s stock market value when his signing was first announced.
His star power is only amplified by his relationship with Kim Kardashian, making him a merchandising dream.
On track, Hamilton has found new life in 2026. After a tough first season with Ferrari, he sits second in the championship standings behind teenage sensation Kimi Antonelli. He scored his first win in red at the Barcelona-Catalunya Grand Prix in June.
Hamilton has reportedly become the team leader at Ferrari, pushing for changes that have put the Scuderia back in title contention. His new deal is expected to be a raise, but the big question is how close he will get to Verstappen’s record-breaking number.
He is not the only driver in line for a big payday. Reigning world champion Lando Norris is reportedly in talks with McLaren for a deal worth around $70 million per season. Two-time champion Fernando Alonso is also weighing his future, deciding whether to stay with Aston Martin or retire.
One key detail that keeps this salary race wide open: driver salaries do not count against the $215 million cost cap that teams operate under. That means teams can spend whatever they want on drivers without hurting their car development budgets.
With the sport booming commercially and the cap keeping other costs down, the only limit is each team’s financial performance. And right now, that is less of a concern than ever.
So, how high will Hamilton’s new number go, and who will be next to cash in?
