George Russell’s hefty eight-figure Mercedes contract revealed

The value of George Russell’s contract extension with Mercedes is reported to be £30million per year.

Mercedes announced on Wednesday 15 October that Russell and his rookie team-mate Andrea Kimi Antonelli had signed contract extensions to continue with the Brackley outfit into the 2026 Formula 1 season.

The announcement came after months of waiting for the two drivers, but team chief Toto Wolff claimed it was always a matter of “when, not if.”

“Confirming our driver line-up was always just a matter of when, not if,” Wolff confirmed. “We wanted to take our time, handle the negotiations properly and make sure everyone, on all sides, was happy. I’m pleased we have done that.

“George and Kimi have proved a strong pairing and we’re excited to continue our journey together. Our focus is now on the final six races of the year, as we fight for second in the constructors’, and onwards to 2026 and a new era in F1.”

Russell, who joined the team in 2022, has been a Mercedes junior driver since 2017. “I am really proud to be continuing our journey together,” said George. “Next year will mark my 10th since I signed with Mercedes back in 2017. It has been such a long and successful partnership with the team so far and I can’t wait to see what lies ahead, particularly as we embark on one of the largest regulation changes in the sport’s history next year.

George Russell, Mercedes

Photo by: Sam Bloxham / LAT Images via Getty Images

“We are all incredibly focused on making that a success and, for me personally, building on what has been my strongest season in F1 to date.”

While the value of the British driver’s contract has not been confirmed, a report from The Independent puts it at £30million per year (approximately $40million). In comparison, various reports indicate that Max Verstappen has a base salary between $65million and $75million, Lewis Hamilton $57million and $60million and Charles Leclerc $34million.

Russell currently sits fourth in the drivers’ standings with 237 points, 36 points behind four-time champion Verstappen in second. So far this season, the 27-year-old driver has secured two grand prix wins in Canada and Singapore. Mercedes is fighting for second in the constructors’ championship with Ferrari, which it currently leads by 27 points.