How Much Do Auto Racers Make?
Many people are curious as to the annual pay of NASCAR driver, who are amongst the highest-paid motorsports professionals in the world. IndyCar and Formula 1 drivers make more money than the average Joe, but the average driver in the United States earns only a fraction of what they do in the top motorsport leagues. IndyCar drivers are only able to make it in Formula One and other motorsports after just a few years as junior drivers.
NASCAR drivers make the most money
If you’ve ever viewed NASCAR races you will know that the drivers are the most successful. While the sport’s teams are struggling to make a profit, the top drivers make decent salaries – and they don’t eat up a disproportionate amount of the money. Most motorsports drivers make a combination of performance bonuses, endorsement deals, salary, and other income related to racing. Forbes estimated Harvick’s earnings to be $10.9 million. Harvick is followed by other income sources, including endorsements.
The top 10 NASCAR drivers earned more than $120 million in 2015 alone. That figure includes their salary, on-track earnings, and endorsements. For example, the top drivers in the Daytona 500 earned $23.6 million, while the bottom ten earned less than $1 million each. They’re still considered to be among the top money-makers. But they don’t always receive the money they deserve.
Formula 1 drivers are the highest-paid.
It’s not hard to see that Formula One drivers are very well-paid. Many drivers earn more than twice their base salary each season. But how do they earn that money? There are several ways. You can double your base salary by winning a race. Other drivers are able to make more than double their base salary thanks to the exorbitant prize purses. These are just a few of the many ways Formula 1 drivers make lots of money.
The Bahraini royal family is another prominent F1 fan and has an estimated personal wealth of $4 billion. Its sovereign wealth fund is worth $17billion. Abu Dhabi’s Emirate controls an investment authority that oversees assets worth $875 billion. Prince Albert is also believed have a fortune in excess of $150 billion. Some of the other top money-making Formula 1 drivers are Mercedes’ Lewis Hamilton and Toro Rosso.
IndyCar drivers are the most successful money-makers
Although driver salaries vary depending on experience, it is generally agreed that rookies as well as lower-tier players make low six-figures. Top-tier players earn a few million. Castroneves is the best data point. He obtained salary information while facing tax fraud charges. At the peak of his career, he was earning 6 million per year for two years. Robin Miller, an independent financial specialist, compiled the salary statistics and published them under his article “IndyCar Drivers-Where they Stand”.
Many IndyCar drivers are paid millions of dollars each year. But salaries can vary widely between professional drivers and amateurs. Top F1 drivers earn around $18 million a year, while in the IndyCar series, drivers and teams are paid hundreds of thousands more. While salaries in IndyCar are not widely discussed, the salaries paid to the top teams and drivers at the Indianapolis 500 are. In June 2019, Carson Wentz signed with the Indianapolis Colts a four-year contract valued at $128 million.
Formula 2 drivers make the final stop before they can enter the top motorsport racing league.
Formula 2 is the final stop for F1 drivers who want to be a part of the most prestigious league in the world. It’s similar to AAA baseball in that Formula 2 drivers earn a fraction of F1 players’ wages and require sponsorship to continue racing. Formula 2 is less competitive than Formula 1, but it is still a valuable experience that will benefit any young driver looking to pursue a career in F1.
The salary for Formula 2 drivers is much less than for Formula One drivers, making approximately $225 to $500 a day. Often, they will find personal sponsorship deals to cover costs associated with car maintenance, entry fees, and other expenses. Such deals are common, but must be able to comply with official FIA rules. Formula 2 drivers who can’t find enough sponsorship may turn to secondary jobs, such as stunt driving, in order to earn enough money to continue their career.