George Russell has revealed that he was £100,000 out of pocket after his first season racing in Formula One.

The Mercedes man got his start with Williams, finishing a debut campaign without a single point, but is now one of the strongest drivers on the grid and earns £14million a year.

Speaking against new regulations which carry the possibility of huge fines, Russell opened up on the financial impact of competing in F1 as a new driver.

“I think it’s pretty ridiculous that a driver could be fined €1m,” he said. “In my first year of F1, I was on a five-figure salary and actually lost over six figures in that first year from paying for my trainer, paying for flights, paying for an assistant.

“And that’s probably the case for 25 per cent of the grid. We’re doing what we love, so we’re not complaining about that.

“But if you take a year one driver who probably by the end of the year is losing over €100,000 because of the investments he has to make, you fine them a million, what’s going to happen?”