Ahead of the highly anticipated 2023 Formula 1 season, Fernando Alonso signed a lucrative multi-year contract with Aston Martin that will last through the end of 2024. The 41-year-old Spanish racing genius took over for Sebastian Vettel, who announced his retirement sometime during the 2022 season. Alonso now works at Aston Martin alongside Lance Stroll and is assigned a multi-year contract.
The Spaniard is considered one of the finest drivers of the era, winning his championships with Renault in 2005 and 2006. Despite his extraordinary accomplishments, he has yet to match that level of glory. The closest he came was with Ferrari in 2010, but he was beaten by the raging and dominant driver of those days, Sebastian Vettel in the climatic final round in Abu Dhabi. Post the event, he had a couple of rough years moving to McLaren and then Alpine.
📰: Fernando Alonso and Aston Martin express mutual interest in extending their successful F1 partnership. Alonso’s strong performance with Aston Martin includes more podium finishes than his past seven seasons combined. Despite his contract running until 2024, Alonso hints at… pic.twitter.com/25aFnT0lDX
— F1 Naija 🇳🇬 (@f1_naija) June 12, 2023
Fernando Alonso and Aston Martin quickly piqued the interest of many Formula 1 fans with multiple podium finishes so far in the 2023 season, and their prospects may grow further. This accomplishment has left many speculating how a turnaround like this was possible given the team’s poor record in 2022. With the given outstanding performance and collaboration with a team such as Aston Martin in the ongoing season, it makes spectators wonder how much Alonso is earning from his current contract.
Fernando Alonso’s salary
Fernando Alonso continues to be one of the highest-paid drivers in Formula 1 despite having not won a championship since 2006. His perpetual ability to land a large pay has consolidated his status as one of the sport’s wealthiest individuals, having an estimated net worth of roughly around $250 million.
What an honor to share the podium with these F1 legends. Thanks Canada🇨🇦💚. Enjoyed every single lap . #f1 #canada #montreal #astonmartin pic.twitter.com/l5ZJtNLSTS
— Fernando Alonso (@alo_oficial) June 18, 2023
Following a gap of two years, the Spanish driver made a comeback to the grid in 2021, racing for Alpine, the team that had pushed him to two previous world titles. While he was unable to repeat his previous achievements, Alonso’s time with the team earned him a substantial salary, amounting to somewhere around $30 million over the course of two seasons.
According to the Spanish publication AS, Fernando Alonso’s deal with his new team pays him up to $22 million. Alonso has openly stated that his decision to switch teams was largely encouraged by Aston Martin’s relentless pursuit of his talents. He additionally adds his income through several different avenues, including investments in his own brand, Kimoa, and lucrative sponsorship collaborations.
🚨BREAKING🟢
— Matthew J. Thompson🇬🇧 (@realMJThompson) March 8, 2023
🇪🇸Fernando Alonso is in negotiations with the Montmeló Circuit for a Kimoa Fernando Alonso grandstand.
The package would include a Kimoa x Aston Martin cap and a grandstand ticket for the whole weekend.
Let’s see what happens. Hopefully it will be possible. pic.twitter.com/jKF0Fn5AWP
While not directly confirming the details, Mike Krack, the team principal of Aston Martin, implied that Alonso’s stay with the team will last several years. The Spanish driver has added to this by stating his desire to stay in the racing field for an extended period of time, presumably aiming for the years 2025 and even 2026.