Despite being replaced by Lewis Hamilton at Ferrari for the 2025 season, Carlos Sainz is determined to give his best performance, have a look at his salary, contract and net worth
The surprising development was announced on Thursday, with seven-time F1 world champion Hamilton departing from Mercedes after an 11-year stint that saw him secure six world titles.
Carlos Sainz Ferrari salary, contract details and net worth in 2024
— Carlos Sainz (@Carlossainz55) February 1, 2024
Hamilton, aged 39, utilized a release clause in his two-year contract to switch from the Silver Arrows to Ferrari, signing a “multi-year contract” with the Scuderia.
This unexpected move leaves Sainz, who clinched Ferrari’s lone victory in Singapore last year, in a challenging position without a drive for the upcoming 2025 season.
About Carlos Sainz
Born in Madrid, Spain, on September 1, 1994, Carlos Sainz Jr. is the son of the esteemed World Rally champion Carlos Sainz.
He made headlines for his breakthrough podium finish for McLaren at the 2019 Brazilian Grand Prix, marking a pivotal moment in his Formula One (F1) journey. Following a positive stint with McLaren, Carlos embarked on a promising chapter with Scuderia Ferrari.
Carlos initiated his racing career with Toro Rosso alongside Max Verstappen in 2015, later joining Renault in 2017, replacing Jolyon Palmer. His F1 trajectory not only highlights his individual on-track achievements but also underscores his family’s rich racing legacy.
Becoming a prominent figure in the F1 Championship, Carlos Sainz’s financial success stems from his racing career and lucrative sponsorship agreements.
Carlos Sainz’s Contract with Ferrari
His Ferrari contract, extended until 2024, signed in April 2022, includes a rise in salary, potentially boosting his net worth to $49 million. During his tenure at McLaren, Carlos earned an annual salary of $8 million, a figure that carried over to his association with Ferrari, supplemented by performance-based bonuses.
His renewed contract with Scuderia Ferrari secures a projected $10 million yearly remuneration, placing him seventh on the F1 salary ranking alongside Kimi Raikkonen, Lance Stroll, and Valtteri Bottas.
Additional income, ranging from $4 million to $7 million annually, is derived from various sponsorships. Endorsed by prestigious brands such as Scuderia Ferrari, Estrella Galicia, Schuberth, PlayStation, and Shiseido Me, Carlos Sainz’s collaborations extend beyond the racetrack, showcasing his influence in both motorsports and the broader market.
These partnerships contribute to his image as a prominent figure, connecting with diverse audiences. Outside of racing, Carlos Sainz has invested in TMRW Sports and Eleven Sports, companies focused on sports technology.
In terms of real estate, Carlos Sainz owns a contemporary-styled property in Sassuolo, Italy, complementing his residence in Spain.
Acquired in 2021, the house features a spacious garage housing his prized Ferrari F1 vehicle, a pool for post-race relaxation, and a garden for social gatherings. This luxurious home serves as a retreat after races and a venue for quality time with loved ones.
With an impressive collection of luxury sports cars, including models like the Bentley Continental GT, Ferrari Roma, Ferrari 812, Mercedes-Benz AMG GT, and McLaren 720S, Carlos Sainz’s passion extends beyond racing.