That total included bonuses for winning races, finishing on the podium at different events and claiming driver and team championship titles.

The 25-year-old was well ahead of his nearest rival in the money stakes, eclipsing Lewis Hamilton in second.

Max Verstappen claimed back-to-back Formula One titles in the last two seasons

Lewis Hamilton struggled last year and his Dutch rival topped the wages table too

The Brit took home around £29m according to the report, in what was a disappointing year for him after the heartbreak of Abu Dhabi the previous season.

Hamilton is anticipated to sign a new deal with Mercedes in the coming weeks. Team Principal Toto Wolff recently said: ‘The age, 38, plays no role in this next contract.

‘If you look how well top athletes have pushed the boundaries.

‘I am thinking about Tom Brady, who is 45 and he is on the pitch throwing a ball and being tackled.

‘We have always found a good value that reflects his worth to the team and to the sport and, on the other side, Mercedes is the place he wants to be, so these things have never been contentious.

‘Nothing is dragging on and the alignment is great.’

Ferrari’s Charles LeClerc is reported to be third in last season’s salary table after cashing in to the tune of around £20m.

And Lando Norris of McLaren came in fourth place with £16.5m, ahead of Carlos Sainz at £10m.

Hamilton will be looking to come back strong when the 2023 season starts

TOP FIVE EARNERS

Max Verstappen – £45m

Lewis Hamilton -£29m

Charles Leclerc – £20m

Lando Norris – £16.5m

Carlos Sainz – £10m

(Salary according to RacingNews365)

Verstappen is rapidly advancing his status on and off track with a number of commercial deals under his belt.

The latest is a partnership with Heineken to promote responsible drinking. Of the deal, he said: ‘People who know me, know that I am very determined and as a driver I do not want to leave any room for error.

‘That’s why I am excited to become a part of the ‘When You Drive, Never Drink’ campaign to help raise awareness for responsible consumption.

‘And being an avid gamer and passionate Sim Racer myself, I’m thrilled to be playing a part in the new gaming initiative being developed called Player 0.0.’

Formula One this year will look slightly different with its biggest calendar ever – 23 races in total.

Verstappen will be desperate to secure a hat-trick of championships and pre-season testing begins this week in Bahrain.

The Dutch racer has started a partnership with Heineken to promote responsible drinking