How Much Does Oscar Piastri Earn at McLaren? Contract, Salary and Incentives for the Australian Racer
Fourth year into the F1 circuit, Oscar Piastri is making strong push for the F1 title. The Australian racing prodigy, has been making waves in Formula 1 with his impressive performances showing growth in every season. He finished ninth in his full debut season in 2023 and clinched fourth place finish in the standing a year later.
Starting with the reserve driver position, Piastri quickly rose to McLaren’s top racer in just three seasons. His seamless transition and consistent performances quickly established him as a valuable asset to the team. Fans have witnessed the 24-year-old thrive on the track; they are curious to know his contract with the F1 giants. Let us dive into the details of Piastri’s salary and incentives.
Oscar Piastri Renewed Contract With McLaren in 2024
In a close title race between McLaren, Ferrari, and Red Bull Racing, Lando Norris finished second with 374 points, while Piastri was fourth with 292 tallying 666 points for the McLaren team. Second-placed Ferrari finished with 652 points – just 14 points behind the eventual winners.
Piastri was rewarded with a mega contract after helping McLaren to a constructors’ championship in 2024. The racer signed a multi-year contract set to pay him over $7 million per season. The new contract runs till 2028.
Also Read: McLaren CEO Zak Brown Trolls Red Bull with Savage ‘Tire Water’ Bottle at Miami GP.
In his first full season with McLaren in 2024, Piastri’s base salary was reported to be approximately $6 million. Just into his fourth season, the number is expected to increase but at the moment, his $ 7 million salary placed him among the lower earners in the F1 grid.
Incentive-based pay for Oscar Piastri
Piastri’s earnings are not solely based on his base salary. Performance bonuses play a significant role. Oscar Piastri’s new McLaren contract reportedly includes “accumulator clauses”. Thee clauses boost his salary with bonuses for winning Grands Prix, winning drivers’ championships, and winning constructors’ championships.
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