The former two-time world champion, now aged 41, caused shockwaves throughout F1 the morning after the Hungarian Grand Prix by confirming that he would leave Alpine to join Aston Martin.
The contract was officially described as “multi-year” – but now new information has arisen.
Spanish newspaper AS have reported that Alonso’s deal with Aston Martin is worth an estimated £17.8m (€20m) per year.
And it contains an escape route after each season. They describe it as “one plus one plus one that can be extended”.
That would allow both the driver and the team to reassess after each season.
AS also reports that Alpine were willing to give Alonso a two-year deal – this contradicts the widely debated theory that a major sticking point for the driver was that his team would only commit to one year.
Sportune.fr, a French sports business outlet, report that Alpine wanted Alonso to accept a salary reduction and a one-year deal, to allow Oscar Piastri to replace him in 2024.
How Alonso to Aston Martin came together
Sebastian Vettel told Aston Martin owner Lawrence Stroll last Wednesday night that he had decided to retire at the end of the 2022 season, rather than pen a new one-year deal, according to AS.
The team always knew that Vettel was considering walking away.
Mick Schumacher and Nyck De Vries were never considered as replacements. Daniel Ricciardo was a possibility and has since been linked with a return to Alpine by French media.
Alonso had been in tentative contact with Aston Martin, before Vettel’s retirement was confirmed, but from last Thursday morning the negotiations ramped up.
“Probably I prefer to stay,” Alonso told media about Alpine.
But a deal with Aston Martin was reached “very quickly,” AS report.
There are no ambassadorial connections to the contract, the Spanish outlet say.
The announcement was so swift that even Alpine were caught off-guard.
Alonso will earn an estimated £17.8m (€20m) each season with Aston Martin. That figure is estimated to be €24m by Sportune.fr.
Marca report that his current salary with Alpine is approximately £15m (€17.9m) which reportedly makes him the fourth highest earner of the 2022 season behind Lewis Hamilton, Max Verstappen and Lando Norris.