Monday, March 5, 2007

Alonso get’s big Pay Raise

For many seasons Michael Schumacher not only ruled the world of Formula 1 on track, but also in the driver salary market, with rumours of annual retainers of $40-50 million excluding his merchandising arrangements.

Estimates put Schumacher’s current wealth at $800 million and for several years I’ve been claiming that he’ll become the very first F1 driver to crack the $1 billion mark.

Yet with Schumacher’s retirement, comes word that he’ll only make a paltry $26 million in ’07.

Upon Double World Champion Fernando Alonso’s move to McLaren Mercedes comes word that the Spaniard’s decision to jump ship was considerably eased by the salary increase that Ron Dennis offered him, a rumored $43 million…

The pay raise makes Alonso the third highest paid professional athelete, languishing only behind Tiger Woods ($90 million) and Phil Mickelson ($47 million)

And to think that many “Stick ‘N Ball” fans don’t think racing drivers are athletes…

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