Interesting that Lotus had to pay Piquet a bonus of $150,000 for winning the 1987 WDC for Williams! (Yes, obviously it increased his promotional value as the reigning champion, but still...)
Just read the documents, contract; Very interesting. But the bonus Piquet received for winning the 1987 World title (with Williams) was axtually $500,000 (150,000 paid by Lotus + 350,000 paid by RJ Reynolds Tobaco (Camel).
His contract for those days was actually massive:
For 1988:
$3,500,000 paid by Camel to exploit his name & fame
$ 900,000 paid by Lotus for his driving services
$ 400,000 paid by Lotus to exploit his name & fame
$ 350,000 paid by Camel for winning the 1987 F1 world title
$ 200,000 paid by Lotus for testing duties
$ 150,000 paid by Lotus for winning the 1987 F1 world title
$ 88,000 paid by Lotus $4,000 per point bonus for 1988. Piquet scored 22 pts in '88 which adds up to $88,000 bonus
$ 40,000 paid by Lotus for traveling & living expenses during the races of 1988 (paid in August '87 already)
$ -- -- -- travel expenses to private tests & promotional events will be covered by Lotus or their sponsors (first class flight, hotel, rental car)
------------------
$5,628,000 Total to be paid by Lotus & Camel to Nelson Piquet for 1988.
His contract signed on August 7 1987 also mentioned that Gérard Decarouge was already signed as technical director for 1988 and that Lotus intention was to extend him for 1989.
Interesting is that Satoru Nakajima also had been extended already at this time, Nelson's contract mentioned that Nakajima had signed a 2nd drive role contract.
The contract also mentioned that Piquet's contract was on the condition that Honda would sign a new contract with Lotus (which they did, we also know that Honda would follow wherever Piquet would sign and that they had already agreed to supply McLaren because of Senna. Meaning that Piquet leaving Williams for Lotus meant that he would take the Honda engines with him, leaving Williams without the succesful Honda engine.)
It was a two year contract and his salary for 1989 (promotional, driver fees, name & fame exploitation all added up and to be paid by Lotus & Camel) was $5,500,000 + $40,000 for traveling & living expenses.
Note also that Nelson Piquet was having his salary paid out to a company he owned, Race Ace Management Corporation, that was based on a tax evading haven: at Aruba on the Dutch Antiles. So he wasn't paying taxes on his salary.
PS: would love to read other leaked contracts.
Inflation corrected Nelson Piquet's 1988 salary today would be $14,096,689 (so comparable with the 15 million $ Ricciardo is earning at McLaren.... but Ricciardo didn't win three F1 world titles).
But if you consider that team budgets were far from team budgets today (even when you take inflation in consideration) then it's safe to say that Piquet had a massive salary for those days. He must have been the best paid driver in F1 for 1988. Off course we don't know how much Senna & Prost at McLaren or how much Gerhard Berger (Berger was known to have negotiated a significant salary increase for 1988, he wasn't paid that much by Ferrari for 1987) at Ferrari were paid but it was likely less as Piquet. And with Williams losing Honda for '88 it is unlikely they paid Mansell as much as the other top earners.
Piquet was already the highest paid driver in F1 in 1986 & 1987. Before that it was probably Niki Lauda I assume with Prost & Rosberg probably next on the highest paid list in '84-'85. Rosberg most likely cashed in on a very high salary at McLaren in '86 too but Piquet was known to be the top earner in '86 & '87.
Edited by William Hunt, 09 August 2022 - 06:00.