Formula One team principals continue to stir the rumor mill—and the drivers could be the biggest beneficiaries.
Ahead of the Singapore Grand Prix last weekend, Red Bull team principal Christian Horner told Sky Sports it would be “foolish” if the team didn’t consider exploring options to sign Mercedes driver George Russell, whose contract is up after 2025.
Mercedes team principal Toto Wolff responded by saying Horner is “always trying to stir the s*** up.”
“It’s part of the game. George is a Mercedes driver, has been forever, and hopefully will be forever. We have a long contract with him,” Wolff said.
However, Wolff made a similar move earlier this year when he reportedly offered Red Bull lead driver Max Verstappen a contract worth about $167 million to take over for the departing Lewis Hamilton starting next season. Verstappen, who is under contract with Red Bull until 2028, said in May that his “future is within Red Bull at the moment.”
The Driver Market
While F1 instituted a spending cap in 2021 in an attempt to bring parity to the sport, driver contracts and the three highest-paid earners on the team are exempt from the cap. This is why Aston Martin could afford to sign managing technical partner Adrian Newey away from Red Bull to a deal worth close to $200 million over five years.
This year’s cap is at $135 million, and including drivers into the cap would vastly alter the sport, as this year’s salaries range from $1 million for Yuki Tsunoda, who is on RB, the sister team of Red Bull, to $55 million for Verstappen.
These back-and-forths between team principals help identify who the most valuable drivers are—and competition can boost the prices. Market changes for certain value positions have been clear in other sports like the NFL, where quarterbacks, pass rushers, and receivers are being paid more than ever.
But in an uncapped market, the potential for F1’s top drivers appears boundless.
