Hamilton Gets PayriseJuly 25th, 2007
Lewis was granted a pay rise by leading the Formula 1 Championship mid-way.
Lewis Hamilton has been granted a pay-rise after reaching the middle of the 2007 season as F1’s championship leader. The impressive and ultra-consistent British rookie started the season with a modest retainer of about (US) $400,000 and a $10,000 per point bonus.
As of the British grand prix, then, he made his first million. According to the Spanish newspaper El Mundo, however, a clause in his contract was triggered at Silverstone, the ninth round of the season.
As he passed the half-way point of 2007 at the very top of the drivers’ world championship, Hamilton automatically qualified for a cool $2.3m bonus. If he scores another 50 points in the remaining eight races this year, Hamilton’s initially paltry salary will have ballooned to nearly $4m Ã¢â‚¬Â disregarding any more contractual bonuses for possibly winning the title. (GMM)
Nice work if you can get it!