Hamilton, Verstappen, Alonso, Vettel: F1's highest-paid drivers as Sainz pens new deal
Carlos Sainz recently extended his Ferrari contract for two seasons more, securing his place on the team and earning a lucrative pay increase whilst at it.
The 27-year-old Spaniard currently sits fifth in the driver standings after a disappointing performance at the Australian Grand Prix and Imola Grand Prix.
Having joined the Ferrari team as Sebastian Vettel’s replacement in 2021, Sainz has been quick to form a highly rated partnership with Charles Leclerc.
The new deal will see Sainz remain with the team until the end of the 2024 season.
Speaking about the new deal, team boss Mattia Binotto said: “I have said several times that I believe we have the best driver pairing in Formula 1 and so, with every passing race, it seemed a completely natural step to extend Carlos’ contract.”
Sainz shared his delight at the extension, stating: “I have always said that there is no better Formula 1 team to race for. And after over a year with them, I can confirm that putting on this race suit and representing this team is unique and incomparable. I feel strengthened by this renewed show of confidence in me, and I can’t wait to get in the car, to do my best for Ferrari and to give its fans plenty to cheer about.”
Whilst many are happy that they will be able to continue following Sainz’s racing career, the new deal has bought the topic of money into conversation.
Formula 1 has always been a lucrative industry with extreme competitions and high entry barriers. The season has now expanded to 23 races a year with new events being introduced into the mix.
Sainz’s new contract is estimated to be worth £10 million-a-year, as per the Daily Star, which is indicative of driver market stability, but only sees him sitting eight in the top 10