Contract Current Contract
2025 Contract Extension (Mercedes)
15 October 2025 - Mercedes confirmed that George Russell has signed contract extension for 2026 season with option for 2027. His Base salary was increased to $40 million (£30m) per-year plus performance bonuses.
Active Contract
| Signed | Base Salary | Bonus | Total | Team | Source |
|---|---|---|---|---|---|
| 2025 | $40m | $8m | $48m |
Mercedes
|
The Telegraph (X) |
New Contract (2026/27) - Mercedes
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.
2023 Contract Extension (Mercedes)
31 August 2023 - George Russell signed 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).
2021 Contract Extension
07 September 2021 - George Russell initially joined Mercedes after the 2021 season signing 2-year (2022/23) contract with the team. His initial salary with Mercedes was only $5 million back in 2022 which was increased to $9 million (including bonuses) in 2023.
Earnings Per Year
| Year | Base Salary | Verified | Age | Team | Remarks |
|---|---|---|---|---|---|
| 2025 | $15m |
|
27 | Mercedes | |
| 2024 | $15m |
|
26 | Mercedes | |
| 2023 | $9m |
|
25 | Mercedes | |
| 2022 | $5m |
|
24 | Mercedes |
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