He finished the 2019 season in 9th overall. #ThrowbackThursday It's a year since @RGrosjean and @KevinMagnussen took a @StewartHaasRcng Stock Car for a spin of @COTA #ThrowbackThursday Driver Lewis Hamilton earns as much as £40 million a year, but that's well above the average. Senna's Monaco Toleman to go under the hammer! DAY!! Having come up through McLaren's F1 Young Driver Programme, Magnussen has been with Haas since 2007. That makes him a perennial runner-up to Lewis Hamilton in sport and salary alike. Formula 1 teams have reportedly agreed to introduce a $30m cap on drivers' salaries from 2023, potentially imposing such a limitation for the first time in Grand Prix racing's history. Keep informed with the latest F1 news, reports and results from F1i.com. https://t.co/cBvdXWvSRu It's no secret that racing pays—in 2019, F1 star Lewis Hamilton came in at # 13 on the list of highest-paid athletes in the world. He finished second at the 2019 Brazilian Grand Prix, bringing Toro Rosso their strongest Grand Prix result since Italy 2008. He then raced for Toro Rosso in 2012 and 2013 before moving over to Red Bull for the 2014 season. Racing team: Racing Point Some fans were baffled when this Australian driver signed a two-year contract with Renault in 2018. That put him back in the Toro Rosso ranks, where he achieved five points finishes during the remainder of the season. Number of World Championships: 0. terms. While he doesn’t have any World Championship titles to his name, the man still has plenty of time to make it happen. He just turned 22 last September, after all. Currently he is working hard to get a better contract. Of course, another way to look at it is that Bottas earns far more than the majority of F1 drivers. In 2018, he signed a two-year contract with the team, much to the consternation of fans who didn’t realize this move would give him a salary a lot higher than what he was earning at Red Bull.  |  Keep an eye on this one. Everything about major sports including football, cricket, tennis, motogp, rugby and american sports. Racing team: Alfa Romeo Racing Or, as is rapidly becoming the norm, Dad buys the team and the full $30m is splashed out on the star driver. All signs point to Hamilton extending his stay in F1 with Mercedes, but a $35m salary cap from 2023 might well incite the six-time world champion to sign a new and final restriction-free two-year deal with the Brackley squad for 2021 and 2022. We’ll leave that one for the fans and haters to hash out! Salary/winnings: $14 million. He finished the season in 2nd place behind Hamilton, making it his most successful season to date. That’s my shell company! The 2020 season will be Sainz’s second season with the team after he joined them for the 2019 season, replacing Fernando Alonso. WHAT. Number of World Championships: 6. At age 40, he’s still a racer to be reckoned with and took out his one and only Championship back in 2007. He joined Racing Point (formerly Force India) in 2018 ahead of the 2019 season, and scored his first points at the Australian Grand Prix that year. It was announced in January 2020 that the Belgian-Dutch driver extended his contract with Red Bull until the end of 2023. But the new rule, if quickly ratified and deemed legal under the various jurisdictions covering F1, could impact the ongoing contract negotiations between Hamilton and Mercedes. He was a contender to take the second Mercedes seat alongside Lewis Hamilton in 2020; however, the team decided to continue with Valtteri Bottas. Teams have agreed in principle to the introduction of a $30m cap on drivers salaries to be introduced in 2023. Country of origin: Switzerland Number of World Championships: 0. Racing team: Haas WHAT. Belgian-Dutch driver Max Verstappen was just 17-years-old when he raced in the 2015 Australian Grand Prix, making him the youngest driver to ever compete in F1 history. "I believe similar to the leagues in the US, if you cap the team at $145m with a downward slope, you need at a certain stage to also cap high salaries. Racing team: Mercedes-AMG Petronas Motorsport With six Formula One World Champion titles, Lewis Hamilton is thought of as one of the greatest drivers in the history of the sport. With his respectable F1 salary of €7,500,000, Finnish driver Valtteri Bottas doesn’t earn nearly as much as his current racing partner, Lewis Hamilton. Wolff explains "robust" call on Bottas' tyre choice, "Excruciating" pain couldn't mar Hamilton's Portimao party, Portuguese GP: Post Race press conference, Portuguese GP: Post Qualifying press conference, New contract "not a priority", says Hamilton, Hamilton questions appointment of Petrov as race steward, "Financial reasons" behind Haas decision, says Grosjean, Click to go to the main galleries section, or Register for a Pitpass ID to have your say. Here’s hoping it results in a change of luck for the talented driver, who does our nation proud. Posted by TokyoAussie, 29/10/2020 3:15, "Yes, driver salaries were the most pressing issue in F1, and capping it at $30 million solves that issue.", Rating: Positive (2)     Rate comment: Positive | NegativeReport this comment, 5. Based on his performance in the time since, however, one might wonder if Renault is suffering from buyer’s remorse. Albon placed 8th overall in 2019. Serio Perez placed 10th overall in the 2019 F1 season. Country of origin: Canada Pirelli crunched the numbers: Which race had the most overtakes in 2017? Some drivers did not signed extension contract and after 2020 they are looking for better deals. Number of World Championships: 0. Posted by Wokingchap, 28/10/2020 20:19, "Seems to be a lot of loopholes here.....designed by ferrari perhaps.