Who are the best value for money Formula 1 drivers?

The analysis assessed Formula 1 drivers based on their base salaries and bonuses relative to key performance metrics such as points, wins, podiums, and crash-related costs. Piastri, who earned a reported $6 million in 2024, provided the best return on investment, outperforming many higher-paid rivals.

Both Piastri and Norris were recognised for their cost-effectiveness, with McLaren’s lineup emerging as the most financially efficient on the grid. Despite operating on a significantly smaller budget compared to the sport’s highest earners, the duo delivered consistently strong results, securing multiple podium finishes and keeping crash-related costs low.

While Charles Leclerc remains Ferrari’s highest-paid driver, the study found that Carlos Sainz provided a better return on investment. With a lower salary than his teammate, Sainz’s points haul in 2024 made him a more financially efficient asset for the Scuderia.

Sainz’s future remains a key talking point, with his impending exit from Ferrari following the arrival of Lewis Hamilton in 2025. His cost-effectiveness may bolster his stock as he transitions to Williams next season.

Despite their continued dominance on track, Max Verstappen and Lewis Hamilton ranked outside the top five in cost-effectiveness due to their high salaries. The report found that Hamilton’s cost per point exceeded $200,000, significantly more than his Formula 1 mid-field competitors.

Similarly, Verstappen’s hefty Red Bull contract reduced his cost-effectiveness, though his success in securing victories and leading laps helped balance the equation to some degree.

Sergio Perez had the highest financial impact from crashes, with his five DNFs in 2024 costing Red Bull an estimated $70 million and the 2024 Formula 1 Constructors' title. Alpine and Williams also faced significant repair bills due to driver incidents.

OLBG summarised the findings: "McLaren’s dominance in cost-effectiveness is clear, while Ferrari’s Carlos Sainz outperformed his higher-paid teammate. Meanwhile, Verstappen and Hamilton, despite their race-winning prowess, ranked outside the top five due to their high salaries.

"This study offers valuable insight into the financial efficiency of F1 teams, showing that raw talent doesn’t always equate to the best value for money," it concluded.

The study incorporated crash-related costs into its weighted scoring system, factoring in salaries lost to damage, base salary per point, and other key financial metrics to determine overall cost-effectiveness.

OLBG’s methodology assessed each driver across multiple categories, assigning weighted scores to determine overall cost-effectiveness. Key factors included base salary per point (30% weighting), base salary per win (10%), and the financial burden of DNFs (15%).

The analysis sheds light on the financial realities of Formula 1, demonstrating how a driver’s salary does not always correlate with their overall value to a team. With the 2025 season on the horizon, teams will continue to weigh performance against cost as they finalise their lineups and budgets for the year ahead.