Ricciardo's salary at Renault means he'll get a huge pay increase in 2019

Daniel Ricciardo (AUS) Red Bull Racing RB14 gets pole position for Monaco Grand Prix

Daniel Ricciardo's decision to leave Red Bull and join Renault F1 was rooted in many factors, one of which was likely the sizeable salary increase the Aussie will enjoy from next year.

The uncertainty surrounding Red Bull's performance in 2019 following its switch to Honda power and perhaps the feeling of living in the shadow of his team mate Max Verstappen, compelled Ricciardo to at least consider an offer from Renault.

Musical chairs: the 2019 driver line-up takes shape

According to Renault's Cyril Abiteboul, negotiations between the driver and the French team had been ongoing for some time, but Ricciardo's hefty salary demands required a big stamp of approval from Renault CEO Carlos Ghosn.

The green light was finally given on Thursday, and reports from the Daily Express claim that Ricciardo's pay grade will reach the $35 million level in 2019.

That’s rumored to be at least three times his current annual Red Bull Racing salary!

The number likely also puts Ricciardo among Formula 1's top three earners, with Lewis Hamilton and Sebastian Vettel still sitting at the top of the pyramid in terms of driver salaries.

Gallery: The beautiful wives and girlfriends of F1 drivers

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.