Lewis not to be short of a few bob

[anonymous-user]

Lewis signs £70million McLaren contract

Autocar said:

Formula One sensation Lewis Hamilton has signed a new five-year contract, thought to be worth £70million, which will keep him in the McLaren hot seat until 2012.

The 23-year-old’s new deal secures him a serious rise in salary compared to the paltry £355,000 he was paid for his rookie season.

Not including personal sponsorship deals, Hamilton is set to bag roughly £13.7million a year between now and 2012. He has previously hinted that he would be prepared to stay with McLaren for his whole career.

And you can understand why he moved to Switzerland. Lewis would have been hit with a £28million income tax bill from the UK government, had he stayed in Stevenage.

[toomuchbeer]

and good for him. If your good at your job, then I see no problem with being paid well. But from memory, which is faiding with age, that's not a lot for one of the top drivers. But I assume the other figures would include personal sponcership.

Wasn't Damon Hill only on £30k or something low when he was made up from test driver to full driver status as Williams?

[kevin ritson]

Indeed, on the face of it that's good VFM for McLaren. And considering Lewis will 'only' be 28 when the contract ends, he's not exactly losing out either.

[Tony 1234]

Think LH is selling himself short, Alonso was on more than that last year!

Tony

[Scuffers]

Tony 1234 said:

Think LH is selling himself short, Alonso was on more than that last year!

Tony

that's not the interesting bit, my question is does Lewis have the rights to his own name for promotional stuff and endorsments? that's where the real money is.....

[Stuismyname]

Scuffers said:

Tony 1234 said:

Think LH is selling himself short, Alonso was on more than that last year!

Tony

that's not the interesting bit, my question is does Lewis have the rights to his own name for promotional stuff and endorsments? that's where the real money is.....

Alonso is a double world champion, let's not forget. Sounds like a bloody good deal for a man entering only his second season.

I have a feeling, with McLaren's history, he won't be cashing in on that much personal sponsorship during those five years. If he's clever however, he'll have negotiated a salary review in the event he notches up a WDC or two before 2013.

[Jim Campbell]

I read in F1 Racing that Kimi's contract is 51million US$ a year which was 34million sterling at the time.So it could be viewed as cheap. Mind u it's prob more than ill be making when im 23. Anyone know what Heiki is on?

Cheers

[1]

Jim Campbell said:

Anyone know what Heiki is on?

£20k basic + company car

[elms]

1 said:

Jim Campbell said:

Anyone know what Heiki is on?

£20k basic + company car

Which in all fairness to Heki, will be a C Class diesel with Leather and Cruise Control, so he is doing quite well for himself

[Miss Pitstop]

I assume that doesn't include bonuses for race wins etc.

I personally won't go out on track for anything less than 50 mil....

[MrKipling43]

elms said:

1 said:

Jim Campbell said:

Anyone know what Heiki is on?

£20k basic + company car

Which in all fairness to Heki, will be a C Class diesel with Leather and Cruise Control, so he is doing quite well for himself