Revealed: Lewis Hamilton’s reported mega-salary after new two-year deal agreed

Jamie Woodhouse
Lewis Hamilton, Mercedes, smiling. Italy, August 2023.

Lewis Hamilton, Mercedes, wearing a broad smile. Italy, August 2023.

Lewis Hamilton has reportedly secured a huge salary increase at Mercedes, with his new deal set to pocket him £50 million per season.

After months of speculation over Hamilton’s Mercedes future, and multiple reports of Ferrari interest in his services, Hamilton finally silenced it all by agreeing to new terms with Mercedes.

His fresh contract commits him to Mercedes until the end of 2025, with the team also confirming George Russell’s place alongside Hamilton with a new deal for the same duration.

Additional reporting by Thomas Maher

Lewis Hamilton Mercedes deal worth £100m

Hamilton remains arguably the biggest and most marketable name in Formula 1 today, meaning he was always going to carry a hefty salary demand for Mercedes, though the figure he will reportedly be paid marks a serious increase on his former pay packet, estimated at £27.6m.

As per The Telegraph, Hamilton’s new Mercedes contract will see him pocket a £50m-per-year salary, a figure in-line with that reported by Sky’s Craig Slater, who claimed his sources had indicated a figure in the region of €50m.

Hamilton’s former title rival Max Verstappen had shot to the top of the earners list in F1 with a reported salary of €50.7m, so Slater had then asked Sky F1 pundit Martin Brundle whether Hamilton’s new deal truly could put him back on financial parity with the dominant Dutchman?

“I’m sure he would be asking for that kind of number,” Brundle replied. “He will value himself at the same as Max as a seven-time World Champion. And he knows he’s still got the speed.” recommends

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It is that continued belief in his own ability which drives Hamilton in his pursuit of that record eighth World Championship, and the Brit has full faith in his Mercedes team that whether it is in 2024 or 2025, they will force their way back into that title conversation.

“Of course in my heart, I’m so hopeful that the decisions we are taking and the direction that we’re rolling towards is that which will put us in that target zone to be able to fight the [Red] Bulls and be close and be challenging for pole,” Hamilton told media, including

“But, if it’s not next year, we’ll continue to work through it. But in my heart, I truly believe that if it’s not next year, it’s the year after, we will be there.”

Hamilton and any other driver for that matter faces a very tall task in trying to deny Verstappen victory at this weekend’s Italian Grand Prix, Verstappen looking to set a new outright F1 record with a 10th grand prix win in a row.

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