Max Verstappen Faces $19M Salary Bonus Cut After F1 2024

Max Verstappen’s F1 2024 victory secures his fourth championship title, but reports suggest a $19M cut in his Red Bull bonus due to fewer race wins this season.

Max Verstappen to Receive Reduced Bonus for F1 2024

Reigning F1 World Champion Max Verstappen will reportedly see his Red Bull bonus slashed by $19 million for the 2024 season. The financial adjustment comes despite Verstappen securing his fourth consecutive title, solidifying his status as one of the greatest drivers in Formula 1 history.

Dominance in F1 2023 Compared to 2024 Challenges

In F1 2023, Max Verstappen and Red Bull delivered a record-breaking season, with the RB19 car securing 21 victories out of 22 races. Verstappen himself achieved 15 wins, the most by any driver in a single season, marking an era of unparalleled dominance.

However, the 2024 season has presented more formidable competition. McLaren, Ferrari, and Mercedes have resurged, with drivers like Lando Norris pushing Verstappen harder than ever. This season, Verstappen endured a 10-race winless streak, his longest since 2020. So far, he has claimed only eight victories compared to 19 in 2023.

How Verstappen’s Reduced Wins Impact His Earnings

Max Verstappen’s contract with Red Bull includes performance-based bonuses for race wins and championships. With fewer victories in F1 2024, reports suggest his bonus will be cut significantly. Despite this, Verstappen remains the highest-paid driver in F1, earning a base salary of approximately $70 million.

Red Bull’s declining form in 2024 has not only affected Verstappen’s bonuses but has also led to speculation about team performance going into the 2025 season.

Red Bull Executives See Salary Boosts Amidst Team Success

While Verstappen faces a bonus reduction, Red Bull executives are enjoying substantial pay increases. Christian Horner, Red Bull’s team principal, reportedly received an 11% pay rise, bringing his salary to £8.92 million.

Dr. Helmut Marko, a key figure in Red Bull’s success, also saw his earnings double to £7 million in 2023. These pay hikes reflect Red Bull’s record-breaking financial performance, with a 16% turnover increase to £446 million in 2023 and shareholders receiving £50 million in dividends.

Two Races Remain in F1 2024

With only the Qatar Grand Prix and Abu Dhabi finale remaining, Max Verstappen has two more opportunities to add to his season tally and potentially cushion his bonus.

Conclusion

Despite a challenging F1 2024 season, Max Verstappen has solidified his place among F1’s elite by securing a fourth consecutive title. However, the financial implications of reduced wins highlight the pressures of maintaining dominance in a fiercely competitive sport.

Stay tuned for updates as the F1 2024 season concludes in Abu Dhabi!