Daniel Ricciardo to receive eyewatering payout for not racing in 2023

McLaren terminated Daniel Ricciardo's contract a year early, with Oscar Piastri having been signed to replace the 33-year-old.

Whilst not racing in 2023 might not be completely ideal for Daniel Ricciardo, it is set to be extremely rewarding, with the Aussie set to receive $24 million next season.

Ricciardo finds himself in his predicament following a disastrous 2022 campaign, where, for the second season in a row at McLaren, he failed to consistently deliver the performances that the paddock knows he’s capable of.

It’s easy to forget that the 33-year-old is an eight-time Grand Prix winner and is still one of the fastest drivers on the grid, when the car suits him.

On the one real occasion where he felt comfortable at the Woking-based outfit, he, of course, claimed a remarkable victory at the 2021 Italian Grand Prix, marking the team’s first victory since 2012.

READ: Zak Brown reveals opinion which will anger Lewis Hamilton

The fan favourite sadly failed to build on from that sensational result, with 2022 having been somewhat of a nightmare for the Australian.

This year has seen Ricciardo eliminated in Q1 several times, whilst he only finished in the top 10 on seven occasions, compared to Norris’ 17.

That fact alone sums up Ricciardo’s two years at McLaren and why his contract was terminated a year early by the team, with the outfit needing two drivers who can take the historic side forwards, not backwards.

Ricciardo has opted to take a sabbatical in 2023 with the view to returning to full-time racing in 2024, should a seat become available for the Honey Badger.

Article continues below

He will still be seen in the paddock at times next season, though, with the driver having returned to Red Bull to become their development driver.

Incredibly, Ricciardo is set to be paid extremely well in 2023, as a result of McLaren having terminated his contract.

According to Business Book GP, reported by Sportune.fr, Ricciardo will receive $24.3 million next season, with $22.2 million of that sum coming from McLaren.

The fee that McLaren will pay Ricciardo is the Aussie’s severance pay, for having terminated his deal a year before it was set to expire.

READ: ‘F1 is a zoo’: Max Verstappen to retire sooner than expected

He is then set to receive an estimated salary of $2.1 million from Red Bull next season, a figure which is still more than a considerable number of full-time drivers in the F1 paddock.

With all of this in mind, Ricciardo’s total earnings from Formula 1 is set to exceed $121.4 million in 2023, with the bubbly character having made his debut back in 2011 for backmarker Hispania Racing Team (known more commonly as HRT).

It shouldn’t come as a shock that he’s earned that much in the sport, with Ricciardo having been the joint-sixth highest earner on the grid in 2022, after earning $17 million, according to Forbes.