Formula 1 driver contract amounts have been a hot topic of discussion since the inception of the sport. With the constant evolution of the sport, the value of these contracts has also witnessed significant changes.

The contracts of Formula 1 drivers today are among the most lucrative in the world of sports. It is no secret that the top drivers in the sport earn multi-million dollar salaries, with some earning more than $50 million per year.

The salaries of Formula 1 drivers are determined by several factors, including their performance on the track, their experience, their popularity, and their sponsorship deals. The drivers who consistently perform at the top level of the sport are the ones who receive the highest salaries.

Lewis Hamilton, a seven-time Formula 1 world champion, is currently the highest-paid driver in the sport. He signed a contract with Mercedes in 2021 for a reported $40 million per year, making him the highest-paid driver in the history of the sport.

Other top-paid drivers in Formula 1 include Max Verstappen, who signed a contract with Red Bull Racing in 2020 for a reported $25 million per year, and Charles Leclerc, who signed a five-year contract with Ferrari in 2019 for a reported $12 million per year.

The salaries of Formula 1 drivers have increased significantly over the past decade. In 2010, the highest-paid driver in the sport was Fernando Alonso, who was earning around $40 million per year. Today, the salaries of the top drivers in the sport have increased by more than 50%.

Formula 1 drivers also earn significant amounts from their sponsorships. These deals can range from millions of dollars to tens of millions of dollars per year. Lewis Hamilton, for example, has a sponsorship deal with Mercedes that is worth tens of millions of dollars per year.

In addition to their salaries and sponsorships, Formula 1 drivers also earn money from race winnings, bonuses, and other incentives. The prize money for the top drivers in the sport can amount to several million dollars per year.

In conclusion, the salaries of Formula 1 drivers have increased significantly over the past decade, making them some of the highest-paid athletes in the world. With the sport`s popularity continuing to increase, it is likely that the value of these contracts will continue to rise in the coming years.