Kimi Räikkönen Bankrupts the British
It's 2011, and everyone's favorite Flying Finn, Kimi Räikkönen, is looking to get back into F1. After a break to do rally (dirt racing, point-to-point stages where the fastest times determine winners), Räikkönen was getting the itch for some track limits defined by kerbs and not spectators.
Williams was originally going to pick him up, but the Lotus F1 team saw a shot to rise up again, and poached Räikkönen for the 2012 season before Williams could finalize a deal.
What you need to know is, Team Lotus's 2011 car? It sucked. They didn't score a single point. And worse, some financial and legal issue behind the scenes meant that Team Lotus withdrew after a single season in F1: the Lotus that Räikkönen ended up driving for? The Renault team, under a different title sponsor: Lotus F1 Team.
Yeah. Team Lotus (Malaysian) and Lotus F1 Team (British) were not the same. Although Renault supplied engines for both teams, back to back.
F1 gets a little weird when it comes to the money side of things. And don't worry. We're about to delve into the money side of things.
Anyway, all this is to say that Räikkönen was being thrown around a little. If Lotus was gonna keep him, they would have to sweeten the deal. Besides his €8,000,000 a year salary (roughly $13,300,000 today), they offered him €50,000 per point scored. That's $82,335 today.
Per. Point.
This is Kimi Räikkönen we're talking about, considered a generational talent on par with Max Verstappen, Lewis Hamilton, and Michael Schumacher. So how well did he do?
Kimi scored 2 wins over the two years with Lotus, which doesn't actually sound like a lot. You'd think one of the best drivers of all time would be able to do more than that. But you have to remember. This wasn't per win, or per podium. It was per point. And Kimi Räikkönen is well known for scoring points in cars that had no business doing as well as they did. If Räikkönen could drag the Lotus to two wins, what do you think he did the other 35 races?
2012. 7 Podiums, 11 top five finishes, Räikkönen finished in the points in every race except for one (China, where the tire strategy screwed him over a little bit). He had a total of 19 points finishes. His teammate, Romain Grosjean, finished 8th in the championship, with 96 points. Driving the exact same car, Räikkönen finished 3rd. With 207 points.
This was also the year with the famous "Just leave me alone, I know what I'm doing" quote from Räikkönen, when speaking to his team over the radio.
He won that race.
In 2013, Räikkönen dropped the last two races to undergo surgery for his back, to solve a medical issue causing extreme pain and discomfort through the 2013 season. Did this hinder his performance?
He won the first race of the season.
8 podiums. 10 top five finishes. Of the 16 races he finished, he scored points in every race except for one (Italy, where he was one spot away from points after having to pit on the first lap to replace a damaged front wing). Even dropping the last two races and having two race retirements (where he couldn't score points -- also to note is that neither retirement was his fault), he finished the season with 183 points, 5th in the championship.
In two years, Räikkönen had scored 390 points. At €50,000 per point, they owed him €19,500,000, plus his normal salary for both years, €16,000,000. This equalled measly sum of €35,500,000.
Doing some quick math, adjusting for inflation on the Euro from 2012 and 2013 and converting to USD: I’m todays terms, Lotus owed him the equivalent of $56,683,856.63. Fifty-six million, six hundred eighty-three thousand, eight hundred fifty-six dollars. And sixty-three cents.
That's almost 56.7 million dollars. In two years.
He eventually joined Ferrari for the 2014 season, over monetary disagreements with Lotus. The disagreements at hand?
Lotus... wasn't doing well, funding wise. That (effective) 56.7 million dollar paycheck they'd have to write wasn't exactly...
Well, to put it honestly, it wasn't exactly possible. Lotus didn't have the money.
Luckily for Lotus, Kimi Räikkönen (being the good guy we all know and love) volunteered a solution: he simply wouldn't take the money they owed him in his contract. They paid him what they could, but he refused to take an amount that would cause Lotus to layoff workers.
Unfortunately, Lotus F1 did eventually go under, and it's not a stretch to say that their underestimation of Kimi Räikkönen played a role in that.
<><><>
Also... I HAVE BEEN RELEASED.
I have successfully completed my side quest of “College demands your Immediate! and Undivided! attention” and am now able to bother you all with my presence once again.
I know, I know. My absence was nearly too much to bear *dramatic sigh* but fear not!! I am mingle and ready to Pringle.
Something like that.
Love y'all!









