George Russell's $40M Mercedes contract makes him the 3rd highest paid F1 driver on the grid

George Russell's $40 million contract extension with Mercedes has reportedly made him the third-highest-paid driver on the 2025 F1 grid, below only Max Verstappen and Lewis Hamilton. The contract signing was revealed earlier this week, after a long hiatus.

Formula 1 drivers are among the highest-paid athletes in the world. Teams usually spend millions on their drivers in a single season. Yet, there is a huge hierarchy that surrounds the driver market, which is currently topped by Max Verstappen. Red Bull reportedly pays the Dutchman $64 million every year, and below him is Lewis Hamilton, who is signed with Ferrari with a $60 million per year contract.

Mercedes has helped George Russell join the top three list with his new contract. As per reports, the Brackley-based outfit is now set to pay him $40 million every year, which will make him the third highest paid driver on the grid.

Although this contract was due for a long time, his competitiveness on the grid this year had almost guaranteed that the team would give him the extension. At the same time, his rookie teammate, Andrea Kimi Antonelli, hadn't been the best performer, but he has been rather consistent.

Mercedes team boss Toto Wolff explained the reason behind the late signing of the drivers, stating that they wanted to make sure everyone was "happy."

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Toto Wolff explains delay in George Russell and Kimi Antonelli's contract signing

As mentioned, the contract signing was delayed for both drivers. Reports claimed that Mercedes only offered George Russell a 1 + 1 contract for the 2026 F1 season, but he wanted a longer contract. At the same time, there was a speculation of Max Verstappen eyeing the seat at the team, leaving Red Bull, however, that speculation did not grow any further.

Explaining the delay in Russell's contract signing, Toto Wolff mentioned that the team wanted to take its time in signing both drivers.

"Confirming our driver line-up was always just a matter of when, not if," Wolff said. "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."

Both George Russell and Kimi Antonelli have been rather competitive in recent races. With Russell's three race wins this year, the team sits in second place in the Constructors' Championship, behind this year's champions, McLaren.