Max Verstappen Faces Major Financial Setback Despite Securing Fourth F1 Championship

Max Verstappen, celebrated for clinching his fourth Formula 1 world title at the Las Vegas Grand Prix, is facing an unexpected setback despite his championship triumph. The Dutchman, who delivered yet another stellar season, will see a significant dip in his earnings compared to his dominant 2023 campaign.

The 2024 Formula 1 season tested Verstappen and Red Bull Racing like never before. McLaren, spearheaded by an impressive Lando Norris, emerged as serious contenders, chipping away at Red Bull’s dominance. While Norris narrowly missed out on his maiden championship, Verstappen’s consistent performances and a decisive victory at the Brazilian Grand Prix ensured he stayed ahead in the title race.

In Las Vegas, Verstappen finished fifth, while Norris secured sixth, sealing Verstappen’s championship win. However, the challenging season not only highlighted cracks in Red Bull’s superiority but also had financial implications for the reigning champion.

Earnings Dip Following Reduced Race Wins

In 2023, Verstappen enjoyed one of the most dominant seasons in F1 history, achieving 19 wins out of 22 races, a record-breaking feat that bolstered his financial rewards. According to Forbes, the Dutch driver earned an impressive €81 million (approximately £67 million) that year, with €1.5 million bonuses for each race victory and additional incentives for podium finishes.

However, 2024 painted a different picture. Verstappen managed eight race victories across the season—an impressive achievement in its own right but significantly fewer than his previous tally. This reduction in wins slashed his bonus earnings to €12 million, far below the €28.5 million he amassed in bonuses in 2023.

Estimates suggest Verstappen’s total earnings for the 2024 season will amount to €67 million (around £56 million), a noticeable decline from the previous year. Despite this, he remains the highest-paid driver on the F1 grid, with a base salary and performance incentives that overshadow his peers.

Red Bull’s Waning Dominance

The financial dip reflects not only Verstappen’s reduced number of victories but also Red Bull’s relative struggles throughout the season. Once the unquestionable leaders of Formula 1, Red Bull faced stiff competition in 2024, particularly from McLaren. Norris and Oscar Piastri showcased remarkable progress, pushing Verstappen and his team to the brink in several races.

The drop in performance left Verstappen shouldering much of the responsibility for keeping Red Bull in contention. Despite the setbacks, he showcased resilience, proving why he remains one of the most formidable drivers in the sport.

The Path Ahead

As Verstappen and Red Bull look toward 2025, the challenge to maintain their competitive edge looms large. With McLaren’s resurgence and the arrival of new regulations, the team will need to address the performance gaps exposed this season. Moreover, Verstappen’s dominance will be tested further as rivals like Norris and Mercedes’ George Russell continue to close in.

For now, while Verstappen’s financial setback may pale in comparison to his monumental achievements, it serves as a reminder of how closely financial success in Formula 1 ties to on-track performance. As the Dutchman enters the next phase of his career, he will undoubtedly aim to reclaim both his dominance on the track and the financial windfall that accompanies it.

Despite the financial dip, Verstappen’s legacy as one of Formula 1’s greatest champions remains untarnished. His ability to adapt and succeed under mounting pressure solidifies his status at the pinnacle of the sport, ensuring his journey continues to captivate fans and rivals alike.