Formula 1

Lewis Hamilton’s new deal will propel him up sport’s rich list.

Lewis Hamilton races up the Forbes rich list after new contract

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Formula One world champion Lewis Hamilton has cemented his place among the world’s highest-earning sportsmen after signing a new £40million-per-year deal with Mercedes.

Hamilton placed 10th on Forbes’ most recent sporting rich list in June 2017, where he was the top-ranked racing driver and trailed only golfer Rory McIlroy among home nations competitors.

Here, Press Association Sport looks at how the new deal could affect Hamilton’s financial outlook.

Forbes pegged Hamilton’s earnings from his sport at 38million US dollars, or £29.5m, for the 12 months to last June.

That may feature performance-related bonuses for his 11 Grand Prix wins, six further podium finishes and second place in the 2016 Drivers’ Championship, but either way, the new £40m wage would have moved him ahead of McIlroy and pushed the ‘big five’ on the Forbes list.

Footballers Cristiano Ronaldo and Lionel Messi, basketball stars LeBron James and Kevin Durant and tennis great Roger Federer have been comfortably clear in the rich list for the last two years, with Durant’s 60.6m US dollars (£47m) representing 2017’s barrier for entry to the exclusive club.

Hamilton’s earnings from endorsements were estimated at another 8m dollars (£6.2m), meaning any significant performance bonuses would lift him ahead of Durant.

Federer (64m dollars, £49.7m) could also be in his sights, though the Swiss should see his numbers rise this year after winning Wimbledon and the Australian Open.

Hamilton would have needed around £16m in bonus payments to challenge Messi for third place.

Lewis Hamilton to win the Mexico Grand Prix (9/5)*

F1 Grand Prix of Mexico - Previews

McIlroy is set to drop back somewhat – the year covered by Forbes includes his 10m US dollar FedEx Cup win – and little has changed for Real Madrid and Wales star Gareth Bale, who was joint 24th in the 2017 list on 34m dollars (£26.4m).

The man alongside Bale could be the one to challenge Hamilton.

Conor McGregor was already upwardly mobile and has estimated he made around 100m dollars from his boxing debut against Floyd Mayweather in August last year – enough to threaten the very top of Forbes’ list, especially as the face of EA Sports’ UFC games to boot.

Combat sports appear to be where the money is – boxer Anthony Joshua cracked last year’s top 100 after earning a reported £15m from his world title win over Wladimir Klitschko, and has since defended his belts against Carlos Takam, Joseph Parker and Alexander Povetkin.

Anthony Joshua v Joseph Parker -  World Heavyweight Title Fight

Andy Murray, 40th last year, has barely taken to the tennis court since Wimbledon while Wayne Rooney’s (70th) move from Manchester United to Everton reportedly meant a 50 per cent wage cut, though he has since moved to DC United.

Luol Deng did not make the list, but earns a reported 18m dollars (£14m) per year from the NBA’s Los Angeles Lakers.

Hamilton’s new deal will leave even Formula One’s other highest-paid drivers, Sebastian Vettel and Fernando Alonso, in his exhaust fumes.

Vettel matches Hamilton’s previous wage, according to Forbes, but minimal earnings from endorsements left him just behind at 14th in last year’s list.

AUTO-PRIX-F1-CAN-RACE

Alonso was 20th with 36m dollars (almost £28m) in total.

The list showed F1’s financial dominance over other motor racing formats, with only NASCAR drivers Jimmie Johnson and Dale Earnhardt Jr making the list at 93rd and 100th respectively.

*Odds subject to change, 18+, www.begambleaware.org

Topics:
Joseph Parker
Wladimir Klitschko
Carlos Takam
Conor McGregor
Jimmie Johnson
Sebastian Vettel
Anthony Joshua
Floyd Mayweather
Fernando Alonso
Lewis Hamilton
Mercedes
Luol Deng
L.A. Lakers
Kevin Durant
LeBron James
Formula 1
Real Madrid
Lionel Messi
Gareth Bale
Cristiano Ronaldo

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