Alonso Reportedly Demands $50m a Year for Ferrari F1 Contract Extension
Reports from Italy and Germany suggest Fernando Alonso is seeking a $50 million annual salary to sign a new three-year deal with Ferrari beyond 2016.
Fernando Alonso is reported to be demanding nearly $50 million per year to extend his contract with Ferrari, according to multiple European media outlets. The figure, equivalent to around €35 million annually, would make Alonso one of the highest-paid drivers in Formula One history if agreed.
Italian magazine Autosprint and daily sports newspaper La Gazzetta dello Sport both reported that Alonso, a two-time world champion, is negotiating hard for a new three-year contract. The deal would keep him at Maranello until the end of 2019, by which time he would be 38. Germany’s Bild newspaper also carried the story, describing the proposed fee as among the largest contracts in the history of sport.
Salary demand far exceeds current retainer
Alonso’s current salary at Ferrari is estimated at just over half the amount now being sought. According to the reports, the new figure would nearly double his existing retainer and even eclipse the terms once enjoyed by Michael Schumacher during his most lucrative years with the Scuderia.
The Spanish driver joined Ferrari in 2010 and has finished runner-up in the drivers’ championship three times with the team but has not added to his two world titles since leaving Renault. His frustration at the lack of a third championship has been widely noted, fuelling speculation about his long-term commitment to Ferrari and the leverage he may be seeking in negotiations.
Ferrari's position and wider context
Ferrari is reportedly keen to secure Alonso’s services through 2019, despite the team’s lack of recent championship success. The Italian squad has seen major changes in technical personnel and management as it seeks to return to the front of the grid. Alonso’s status as one of the most consistent and highly-rated drivers in the field gives him considerable negotiating power, particularly as rival teams continue to monitor his situation.
If Ferrari were to agree to Alonso’s terms, the total value of the contract would approach $140 million over three years. Such a deal would set a new benchmark for driver salaries in Formula One and could have implications for future contract negotiations across the grid. Comparisons have already been drawn with Lewis Hamilton’s $150 million three-year deal with Mercedes, signed in 2015, which you can read more about at Hamilton Signs Three-Year Mercedes F1 Deal Worth $150m.
No official confirmation from Ferrari or Alonso
Neither Ferrari nor Alonso has publicly confirmed the reported salary demands or the status of contract talks. The speculation comes amid persistent rumours of possible moves elsewhere in the paddock, but for now, both sides appear focused on negotiating terms for a possible long-term extension.
