Vettel’s deal nets $10MM

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According to Speed TV via Bild, the new contract extension will see the German driver netting a whopping $10 Million by his third year.

Sebastian Vettel has joined the ranks of Formula One drivers who enjoy eight-figure annual salaries, according to the German newspaper Bild. It was announced on Friday that the 22-year-old has extended his contract with Red Bull Racing through 2011, with an option to also include 2012. Bild believes Vettel is earning about 3.5 million euros per year in 2009 and 2010, but the new deal increases to 10m euros in 2011 and beyond. The suggestion is therefore that Vettel was prepared to sign up for 2011 even without knowing if Red Bull’s next car is a title challenger, and amid rumors teams like Ferrari, Toyota and McLaren were interested. He responded: “I doubt that we are going to be bad next year, and when my contract ends, I am only going to be 25; I am not going to have gray hair!” As for the reported pay rise, Vettel added: “As I said before, I feel good.”

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