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Formula 1

Max Verstappen to Pay Over £1 Million to Compete in F1 Next Season

Dominant Season Comes at a Price

Max Verstappen, the reigning F1 champion, will have to pay more than £1 million in order to compete in the upcoming season. Verstappen, who secured his third successive drivers' championship in 2023, had a record-breaking season with 16 wins and 575 points. However, his success comes with a hefty price tag.

Calculating the Cost

F1 racing licences for the following season are determined based on the previous year's points totals. The base cost for drivers is approximately £9,000, with an additional £1,800 for each point accumulated. Verstappen's impressive 575-point total results in a payment of over £1 million. In total, the Dutch driver will have to pay £1,046,911 to compete in 2024.

Red Bull to Potentially Cover the Cost

While Verstappen faces a substantial bill, it is likely that his team, Red Bull, will cover the cost of his racing licence. As one of their star drivers, it is expected that they will support Verstappen financially.

Hamilton Pays Less Than Half

In contrast, seven-time champion Lewis Hamilton will only have to pay £431,349 to compete in the upcoming season. Hamilton's performance in 2023 was not as impressive, with just 234 points and no race wins for the second consecutive season. His fee is less than half of Verstappen's.

Lowest Payment Goes to Logan Sargeant

The driver paying the least amount for the racing licence is Williams driver Logan Sargeant. Sargeant accumulated just one point in the 2023 season, resulting in a total payment of £10,800.

Verstappen's Complaints

Verstappen has voiced his dissatisfaction with the high fees in the past. He believes it is unfair that F1 drivers have to pay such large sums, especially considering the increasing number of races. The upcoming season will feature a record 24 races, up from 22 in 2023.

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