George Russell
George Russell's current contract with Mercedes AMG expires at the end of 2025 F1 season. However, he is confident to secure another deal with the team for atleast 2026 season which might be announced closer to the end of 2025 F1 season.
George Russell initially joined Mercedes after the 2021 season signing 2-year (2022/23) contract with the team which was later extended to another two years (2024/25) where he negotiated financially improved terms with base salary of $15 million (gross) per year. He is also entitled to upto $8 million in performance related bonuses potentially taking his yearly earnings to $23 million (gross).
His initial salary with Mercedes was only $5 million back in 2022 which was increased to $9 million (including bonuses) in 2023. His latest contract extension ensured him guaranteed salary of $15 million a-year for 2024 and 2025 season.
July 2025 Contract Update: George Russell and Mercedes AMG has reached agreement for a 2-year (2026/27) contract extension with option for 2028 on Mercedes part. His salary will be increased to around $30 million (gross) per year Including bonuses. The new contract will be announced by first week of August when F1 season resumes after summer break.
| Signed | Base Salary ⬍ | Bonus ⬍ | Total ⬍ | Team | Source |
|---|---|---|---|---|---|
| 2023 | $ 15,000,000 | $ 8,000,000 | $ 23,000,000 | Mercedes | AMuS (German F1 News) |