George Russell has finally signed on the dotted line with Mercedes after months of hold-ups. And it is believed the 27-year-old has secured a multi-year extension valued at approximately £30million annually, inrecognition of his exceptional performances this campaign. It places Russell amongst the three highest-paid drivers on the Formula One circuit, trailing only Max Verstappen and Lewis Hamilton. The former is believed to earn around £48m per year, according to Spotrac, while Hamilton is said to receive nearly £45m each season.
Russell’s new deal also provides him with additional security against the continuing menace from Verstappen, with the Silver Arrows maintaining their vigilant watch over the four-time world champion. Verstappen will remain with Red Bull through the 2026 campaign but will re-evaluate his options next year, once the competitive landscape under fresh technical regulations becomes apparent. His representative, Raymond Vermeulen, has already declared publicly that his client will seek to depart unless “he has the equipment to be able to win”.
Team boss Toto Wolff courted Verstappen earlier this year and it was only following the Red Bull driver’s confirmation of his commitment that negotiations with Russell gained momentum.
From that moment, it was a formality that Mercedes would keep their existing pairing of Russell and youngster Kimi Antonelli for 2026. Progress on Russell’s contract talks proved sluggish, with the King’s Lynn native opting to enjoy his summer holidays rather than remain tied up in negotiations.
Wolff has repeatedly stated that any delays stemmed purely from finalising intricate details, including Russell’s media obligations and sponsorship arrangements.
However, whispers have emerged suggesting the contract duration became a major stumbling block, with Russell seeking long-term security whilst the team preferred maintaining flexibility.
It appears the driver has achieved his objective after Mercedes confirmed yesterday that both Russell and Antonelli would remain with the squad for the upcoming campaign.
Russell commented: “I’m really proud to be continuing our journey together. Next year will mark my 10th since I signed with Mercedes back in 2017. It has been such a long and successful partnership with the team so far and I can’t wait to see what lies ahead.”
The team refrained from disclosing contract durations for either driver in their official statements, though Mercedes insiders told The Mirror that Russell secured a multi-year agreement.
This represents fitting recognition for one of this season’s standout performers, following the Briton’s second victory of the campaign at the Singapore Grand Prix.
Russell sits comfortably fourth in the championship standings, holding a 64-point advantage over Charles Leclerc beneath him whilst remaining within reach of Verstappen in third place. Antonelli’s situation is more complex, as his arrangement with Mercedes differs from that of his team-mate.
The team reportedly has a greater say over the young Italian’s future, having expedited his entry into F1. Mercedes remain convinced they have a budding superstar in their ranks and have been impressed by his attitude and commitment despite some challenging moments in his debut F1 season.