Lewis Hamilton misses out on huge bonus after failing to win F1 race for second year in a row

However, ever since being denied a historic eighth F1 title by Max Verstappen in controversial circumstances in 2021, he's struggled to scale the heights of old.

Hamilton did well to finish third in the Drivers' Championship last term, behind Verstappen and Sergio Perez.

Yet he will enter the 2024 season hoping to avoid three straight years without a place at the top of the podium to show for his efforts.

According to Forbes, Hamilton earned a staggering £43.4million for his exploits on the grid this term.

Yet he wasn't paid a bonus by Mercedes following a mixed campaign.

Nine of the other top 10 drivers did pocket huge payouts, however.

Verstappen earned a base salary of £35.5m after cruising to a third successive F1 crown, with the 26-year-old very much the man to beat these days.

And his achievements meant he was given an extra £19.7m from Red Bull, who are now the sport's most dominant side.

Verstappen was unstoppable last term, winning a record 19 races - including 17 of the final 18.

The only other driver to pocket an eight-figure bonus was Perez, who earned an overall £19.6m altogether once his extra payout was added.

While Hamilton doesn't have a bonus to cheer about this Christmas, he's confident he can challenge Verstappen and Perez for F1 supremacy next term.

Speaking in Baku at the FIA's end-of-season prize-giving gala earlier this month, he stated: "It's always the exciting time of the year because I have seen the car in the wind tunnel.

"I always go by the wind tunnel when I go to the factory and to see it evolving in whichever direction it ends up going.

"As soon as I was leaving, again I popped in just to see where we were and when I come back it'll be again a different animal.

"But I have full faith in everyone that's working on it and hopeful that we'll be in a much more competitive position next year."

Hamilton also showed grace by congratulating Verstappen, Perez and Red Bull for their achievements this term.

"I have to say a big congratulations to Red Bull and to Max and Checo. They've done an incredible job this year. Max was faultless," he said.

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"The team really raised the bar and we have a lot of work to close that gap.

"But I truly do believe that we can close that gap.

"And a big, big thank you to my team because they never gave up this year.

"We started off with the sister basically of the previous year's car which was not good and not fun to drive for most of the year, but no one gave up.

"Everyone continued to show up every day and that was what was most inspiring for me.

"I hope we come back next year and give it everything."

F1 pre-season testing starts in Bahrain on February 21.

The first race of the season takes place in the same country on March 2.