The Formula 1 driver market is set for another seismic shift as Fernando Alonso, the two-time world champion, reportedly demands a substantial pay rise to remain with Aston Martin beyond the 2026 season. According to information gathered from sources close to the negotiations, the 45-year-old Spaniard has informed the British team of his financial expectations: €40 million per year for a two-year extension, covering the 2027 and 2028 seasons. That would amount to a total of €80 million, a figure that would place him among the highest earners in the history of the sport.
Alonso is currently in the final year of his existing contract with Aston Martin, a deal that pays him €30 million per season. The Asturian driver, who turned 45 in July 2026, has shown no signs of slowing down, and his performances on the track have continued to justify his place in the paddock. However, the financial aspect of his potential extension has become a major talking point, as the sport navigates an era of skyrocketing salaries for its top talents.
The initial report emerged from an industry insider who publishes an annual guide on Formula 1 business affairs, and was subsequently corroborated by Spanish media. The figure of €40 million per season represents a significant escalation from his current wages, but those close to Alonso argue that his commercial value to the team is immense. Sponsors, marketing campaigns, and the sheer global appeal of the Spaniard are reportedly cited as key justifications for the proposed contract. In an era where driver salaries are increasingly tied to their off-track value, Alonso's case is seen as a prime example of a veteran who still moves the needle for sponsors and broadcasters alike.
Alonso joined Aston Martin in 2023 after a difficult final season with Alpine, initially signing a contract worth €20 million per year. The deal was structured with progressive increases, reflecting both his performance and the team's growing ambitions under the leadership of Lawrence Stroll, the Canadian billionaire who has invested heavily in the Silverstone-based outfit. That original salary has already grown to €30 million, and now Alonso is pushing for a further leap that would take his earnings into the stratosphere.
If the €40 million demand is met, Alonso would become the third-highest paid driver on the grid, tied with Ferrari's Charles Leclerc. Only two drivers would still earn more: Max Verstappen, who commands an extraordinary €70 million annual salary at Red Bull, and Lewis Hamilton, who receives €60 million as he continues his storied career with Ferrari. The salary hierarchy in Formula 1 has always been a reflection of both talent and marketability, and Alonso's place within that hierarchy speaks to his enduring relevance in a sport that is constantly evolving.
The negotiations, however, are not solely about money. Alonso is reportedly equally focused on the competitive prospects of the Aston Martin team. The 2026 season has been a challenging one, with the team showing flashes of promise but failing to consistently challenge for podium finishes. Alonso, who has always been fiercely ambitious, is said to want assurance that the team can provide him with a car capable of contesting for a third world title. At 45, he remains competitive, but he is also realistic about the limited time he has left at the pinnacle of motorsport.
The 2026 calendar features 24 races, one more than the current season, and Alonso is reportedly keen to assess the team's trajectory before making a final decision. Sources close to the negotiations suggest that he would only prolong his career if he believes he can seriously fight for the championship. That stance has been a recurring theme throughout his career, as Alonso has often prioritized competitiveness over financial gain, even when it meant leaving teams that could not offer him a winning car.
Alonso's career is one of the most decorated in Formula 1 history. He entered the sport in 2001 with Minardi, and by 2003 he was racing for Renault, where he became the youngest world champion in 2005 at the age of 24, breaking a record that had stood for decades. He successfully defended his title in 2006 with a dramatic season-long battle against Michael Schumacher. Those two championships remain his only titles, but his legacy is built on far more than mere statistics. Over the years, he has been a relentless competitor, often extracting results from machinery that was not capable of winning races.
After his initial stint with Renault, Alonso moved to McLaren, then to Ferrari, where he came agonizingly close to winning the title in 2010, 2012, and 2013, but was denied each time by a combination of late-season droughts and superior machinery from his rivals. During his time in red, he earned a reputation as the most complete driver on the grid, lauded for his racecraft, his ability to manage tires, and his relentless pursuit of perfection.
Following a disappointing return to McLaren between 2015 and 2018, Alonso decided to leave Formula 1 and pursue success in other disciplines. He won the World Endurance Championship with Toyota, claimed victory at the 24 Hours of Le Mans twice, and even tried his hand at the Indianapolis 500. His short stint away from F1 allowed him to re-energize and, when he made a comeback with Alpine in 2021, he proved that he had lost none of his speed. His famous defensive battle against Hamilton in Hungary in 2021 was a testament to his enduring skill.
When Aston Martin came calling in 2023, Alonso saw an opportunity to lead a project from the ground up. The team had been rebranded from the former Racing Point outfit and was backed by immense investment, including a new state-of-the-art factory and a roster of highly respected engineers. The early promise of the 2023 season, with six podiums in the first eight races, convinced Alonso that he had made the right choice. However, the team's performance has dipped since then, and the current campaign has been marked by inconsistency.
The 2026 season is a year of significant regulation changes in Formula 1, with new engine rules and aerodynamic packages that are designed to improve the quality of racing. Teams like Aston Martin are hoping that these changes will reshuffle the competitive order, offering them a chance to leapfrog the established frontrunners. Alonso is aware of this, and he is reportedly waiting to see how the team's new car performs in the early part of 2026 before committing his future.
Meanwhile, Aston Martin is also planning for the long term. Lawrence Stroll recently secured a deal to use Honda engines from 2026 onwards, a technical partnership that many see as a critical step toward becoming a truly competitive outfit. The team has also invested in driver development, but there is no doubt that Alonso remains the centerpiece of their immediate plans. His experience, feedback, and leadership are considered invaluable assets, and the team is likely to do everything in its power to keep him on board.
That does not mean the financial negotiation will be straightforward. Aston Martin, like all teams, operates under the constraints of the Formula 1 budget cap, although driver salaries are excluded from that cap. Still, the team will need to balance its books, and a €40 million annual salary is a significant commitment. There is also the question of Alonso's age, as he would be 47 by the time such a contract expires. While his physical conditioning is exceptional, and he has shown no signs of fatigue, father time is an opponent that no one has ever defeated.
For Alonso, retirement has been a topic of discussion for several years. He has repeatedly stated that he will only continue as long as he feels competitive and motivated. His recent performances suggest that he still has the speed to race at the highest level, and his appetite for racing remains undiminished. Whether he chooses to extend his stay at Aston Martin or announce his retirement, he has made it clear that he will not be rushed into a decision.
Sources indicate that a public announcement could be made during the Dutch Grand Prix weekend at Zandvoort, which will take place from August 21 to August 23. That has now become the focus of intense speculation, with fans and pundits alike eagerly awaiting news of Alonso's future. The media have noted that the driver is in no hurry, and that he is weighing his options calmly and carefully.
The demand for €40 million per season is unprecedented for a driver of Alonso's age, but it reflects his unique status. He is not just a driver; he is a brand. His association with Aston Martin has elevated the team's profile, and his absence would be felt well beyond the track. Alonso has always been passionate about the sport, and he has never hidden his desire to challenge for a third world title. If he believes that Aston Martin can provide him with that opportunity, and if the financial package meets his expectations, he is likely to continue.
As the Formula 1 circus rolls on to the Netherlands, the paddock remains abuzz with speculation. Alonso has already achieved more than most drivers could dream of, yet he continues to push for more. Whether in terms of salary, performance, or legacy, he wants the best. The next few weeks will reveal whether Aston Martin is willing to meet his demands and secure his services for two more years, or whether the two-time champion will decide that his time in the sport has reached its natural end. Until then, the wait continues for one of the most intriguing contractual sagas in Formula 1 history.
Source: leparisien.fr News