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BUSINESS LIVE: John Lewis narrows losses to £55m

By Live Commentary

Updated: 02:40 EDT, 14 September 2023

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Sienna Miller, Anthony Joshua and Damien Lewis star at BGC Group Charity Day

By Daily Mail City & Finance

Updated: 11:33 EDT, 13 September 2023

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

John Lewis and Waitrose to hire more than 10,000 Christmas staff

• JLP wants to recruit for more than 2,800 seasonal posts at its Waitrose outlets
• It is also looking to recruit for over 2,900 temporary roles at John Lewis stores
• The employee-owned retailer has recorded three consecutive annual losses

By Harry Wise

Updated: 05:34 EDT, 25 August 2023

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Locals are battling to stop John Lewis‘ plan to replace Waitrose supermarket with huge 20-storey tower blocks. 

A ‘Stop the Towers’ campaign has been organised by residents of west Ealing who are against the plans for almost 430 homes. 

Campaigners say John Lewis has ‘ignored’ public opinion and local planning guidance.

The public consultation on the controversial plans opened on August 10 and closes on August 31 – a move objectors say is a ‘deliberate attempt’ to avoid scrutiny, as many residents will be on holiday and won’t have time to respond. 

In February this year, Ealing Council leader Peter Mason said the plans were ‘disappointing to say the least’. 

He added that it felt like the ‘big institution’ was trying to ‘twist arms and bully through a scheme’. 

Cllr Mason questioned the height of the four proposed tower blocks, with the tallest reaching 20-storeys. 

Subject to ‘ongoing discussions’ with the Labour-led council, 35 per cent of the homes will be affordable – although the documents do suggest this could drop to 20 per cent. 

Co-chairs of the campaign, Denise Colliver and Justine Sullivan stated: ‘The arrogance of JLPs development team is breath-taking. 

‘They’ve ignored both the weight of public opinion and also the Local Plan site-specific guidance.’

They added: ‘No one objects to appropriate, proportionate development that will genuinely benefit local communities. But yet again we are seeing developers trying to ride roughshod over local people’s wishes and needs, ignoring democratically implemented local plans, just to make a fast buck.’ 

Leader of the Liberal Democrat group at the council, Gary Malcolm, said: ‘There have been too many tall towers built over the past fiver to ten years. 

‘A huge amount of housing is needed but it’s better to have lower density schemes,  that are good for families.’ 

Cllr Malcolm added that John Lewis is going against one of the council’s policies which was brought in last year to crack down on tall buildings.

John Lewis has said residents will have until the date of the planning committee to submit their views on the major development.  

The plans also include a café, a Waitrose and ‘public realm improvements’ on Alexandria Road. 

A planning statement submitted by Savills on behalf of the retailer says it is ‘an exciting and significant opportunity to optimise a well-connected, heavily under-utilised, brownfield site’.

The Conservative group said: ‘We are listening to residents’ stated concerns about the proposed height of the development, the amount of parking proposed, the potential strain on local infrastructure, and the provision of retail. All of these questions need to be addressed.’

The department store giant is hoping to build 1,000 new flats on sites of old Waitrose stores as part of a £500 million deal, with its flagship scheme in Bromley in addition to a site in Mill Lane, Reading.

A spokesperson for John Lewis said: ‘As the housing crisis continues, we have the opportunity to make better use of a supermarket and car park site to deliver much-needed homes for the local area, as well as improved community facilities, new commercial space and a new Waitrose shop. 

‘We’ve set out our ambition to maximise the delivery of affordable housing to ensure good availability of quality, rental homes for local people, including nurses, teachers and other key workers. 

‘This is an ongoing process where we’ve been working closely with a range of stakeholders and will continue to do so while the application is considered. 

‘The plans have been submitted to Ealing and the local authority will now consider the application in line with all relevant planning policies. 

‘We are confident that Ealing will welcome feedback from local residents between now and determination of the application as has always been the case with other major applications in the borough.’

Researchers have uncovered another side effect of pandemic lockdowns and travel bans – a surge in ‘drivers’ anxiety’.

A survey found that a quarter of people are driving less than they did during the pandemic, and the majority say it’s because they are more anxious about getting behind the wheel.

Of those who reported driving anxiety, 47 percent felt that driving less during the pandemic caused their driving abilities to deteriorate, and 58 percent were more concerned about other drivers.

The unprecedented lockdowns and working-from-home orders ushered in during Covid caused millions to switch to remote work and ditch their daily commutes to and from the office.

World champion F1 drivers Max Verstappen, Sebastian Vettel and Lewis Hamilton, who admits being nervous on civilian roads, have shared their advice for conquering highway jitters with DailyMail.com.

The new survey was commissioned by the driving training company Aceable.

It found that, as of April 2022, 41 percent of people are driving the same amount that they did before March 2020, 32 percent are driving more, and 27 percent are driving less.

Of the people driving less than they did before the pandemic, 53 percent reported feeling more anxious about driving than they did before March 2020.

Additionally, road rage incidents also contributed to nervousness. 

Nearly two-thirds of drivers reported they felt more road rage than before the pandemic and 68 percent reported experiencing more road rage from other drivers. 

Joanne Mallon, author of How to Overcome Fear of Driving, offers a possible explanation: ‘The pandemic itself was a prolonged period of stress. 

‘Such major life changes can cause anxiety. It also stopped many people from driving for months. People lost the habit of maneuvering busy roads and their confidence.’ 

To combat the rise in driving anxiety, professional race car drivers offered their advice on how they relax before climbing into the driver’s seat. 

Lewis Hamilton, Max Verstappen and Sebastian Vettel said they practice breathing techniques or listen to music beforehand. 

‘If you get the breathing right, it just helps you flow through it. Everything comes more naturally and seems less stressful when you’re taking the time to give your body the oxygen it needs’, Hamilton told DailyMail.com.

In 2022, Hamilton opened up about the anxiety he faced after losing his eighth WC trophy.

Hamilton said in his Instagram story: ‘It’s been such a tough year already with everything that is happening around us. 

‘I have struggled mentally and emotionally for a long time, to keep going is a constant effort, but we have to keep fighting, we have so much to do and to achieve.’

If Hamilton’s advice isn’t for you, Verstappen recommends doing something fun, such as playing a game, before sitting in the driver’s seat to beat the rising sense of anxiety.

Performing an activity you like before driving not only helps you to stop thinking about your worries but also gives you a sense of achievement and boosts your confidence.

Lastly, Vettel advises drivers with anxiety to listen to music, saying it can make all the difference.

Listening to music you enjoy is a great way to feel less stressed, and when you listen to your favorite music in a calm place, you connect it with positive feelings. This connection can help you stay calm and relaxed when you hear those songs in more stressful times, such as when driving.

Among other advice the champions recommended were exercising, staying hydrated and practicing how to drive.

Retail is in the blood for Nish Kankiwala, the former Hovis boss who has become the first-ever chief executive of the John Lewis Partnership, owner of the department store chain and Waitrose grocery stores.

His family came to the UK from Mumbai, India, in the 1960s.

At first his parents couldn’t afford for Kankiwala and his sister to come to London, so the children stayed with their grandparents who had six sari shops.

‘I used to go to the shops on the way to school,’ he says. ‘I love fabrics.’

It sounds ideal for a man who will be responsible for all John Lewis’ cushions, curtains and beautifully upholstered sofas. Not to mention the fabled haberdashery and dressmaking departments.

Kankiwala originally had a clothes stall on Walthamstow market in east London.

He was also running the family’s shop attached to a Post Office in Tottenham, north London, when his father fell ill, while he was studying for his degree at University College London. ‘I did engineering, but I couldn’t escape my retail destiny,’ he laughs.

Kankiwala finds himself back on the shop floor in one of the hardest jobs in the industry – restoring John Lewis and Waitrose to their former status. The two chains were once synonymous with quality, service and being the undisputed destination of choice for Britain’s middle-class shoppers.

Waitrose, for example, was the first British supermarket to sell hummus – in the 1980s – and sushi – in 1996 – as well as being the first to offer organic produce.

It has its own farm and was the first to have its own vineyard. In a sign of the times it also has the largest value range with more than 900 ‘Essentials’ products.

Though its middle-class credentials still run deep, there is even an ‘Overheard in Waitrose’ satire on social media, poking gentle fun at the pretensions and foibles of the customers. But the business has struggled in the pandemic and the rampant inflation that followed.

Underlying those problems, which hit the retail sector as a whole, the department stores seemed to lose their mojo when faced with tough competition online and elsewhere on the high street.

John Lewis, the largest employee-owned operation in the UK with 74,000 partners, dropped its ‘never knowingly undersold’ policy, a move that would once have been sacrilege. Even its well-heeled customers are more hard up.

‘The Bank of England wants to make people feel a bit gloomier so they spend less, and it is working,’ says Kankiwala pointedly.

‘If you look at previous booms and busts sometimes it goes too far and we tip into recession. The trick is to avoid that. But that is for the bank. I just run shops.’

He says Anyday – the John Lewis ‘entry level brand’ for home and fashion – has ‘grown significantly’ as has the Waitrose Essentials label.

He is also looking at offering Klarna-style payments by instalments, which are often associated with lower income consumers. ‘I think we will develop a buy-now-pay-later product,’ he says. ‘Especially in the younger generation, people expect it.’

Kankiwala, who was a non-executive for two years before becoming chief executive officer, will be working alongside chairman Dame Sharon White to try and restore the partnership’s place in the nation’s hearts.

They have their work cut out. Losses for last year were £234 million and partners have had only one bonus in the past three years.

The hope is that installing Kankiwala as the first chief executive of John Lewis and Waitrose will supercharge the revival. Previously, the two chains had separate bosses, each reporting to the chairman.

‘We have never had a CEO,’ Kankiwala says. ‘In the old days we had two of everything. We have brought together all the functions and they all report to me now.’

Kankiwala’s task is to implement the recovery strategy – called the Partnership Plan – drawn up by White three years ago. The five-year blueprint aims to reduce costs, improve service and branch out into areas such as financial services and high quality rental housing.

The target is to make £200 million profits in the next two years and £400 million by 2025. Along the way, White has pledged to bring back partner bonuses when profit hits £150 million and debt falls.

But given the downturn in the economy since the plan was put in place, is this still realistic?

‘We are midway through it,’ he says. ‘We have had the cost of living, rising utility bills and an additional £180 million of costs.

‘It means we need to go even harder in some areas of the plan where I can bring my skills into play. Number one – I am fixated by customers. Growing up as I did, I can think of a thousand examples of learning from customers because they tell you the truth, though you might not like it.

‘Number two is cost. With all the extra expenditure coming out of the business we really have to make sure we are as productive as possible. In some areas we are not as efficient as other retailers. We need to look at waste and the supply chain.

‘The third area we need to supercharge is technology. We’ve not invested as fast as we should have.’

Despite three years of losses, he believes he can still hit the profit targets. ‘I broadly think they will be achieved by taking out more costs,’ he says.

‘When the previous team did the work, their assumption on inflation was about 3 per cent. We have taken out £300 million of costs already. This year we will probably take out £100 million.’

‘In procurement, we can do better. But we want to do it sustainably, not just slash.’

John Lewis has shut 16 shops since the pandemic, resulting in over 2,000 redundancies. And nine Waitrose shops have been closed, leading to more than 500 job losses. Kankiwala says there are no plans to shut any more shops.

When White talked in March about the possibility that there might be more implications for jobs, she meant by natural turnover. No redundancies were announced.

As for reinstating bonuses, he says staff are more concerned about higher basic wages. Partners have been promised they will be paid at least the Real Living Wage of £10.90 an hour – or £11.95 in London – once profit is over £200 million. Customers may be surprised this was not already the case.

There have been suggestions that the plight of John Lewis had become so desperate that White was prepared to dismantle the partnership model in order to bring in new investment. Kankiwala, however, is adamant that the partnership is safe in his hands.

Kankiwala spent most of his career in the mainstream corporate sector including Pepsico and Burger King. His most recent role was at Hovis, where he negotiated a sale to private equity.

The buyout barons have a hard-headed approach to business that is inimical to the partnership ethos. So is he really wedded to it?

‘I am,’ he insists. ‘I genuinely feel that the partnership model is a better one and will be replicated elsewhere.’

Sadly, his parents have passed away and are not here to see their son take one of the biggest jobs in British retail.

‘My mum and dad would be really proud,’ he says. ‘When I used to sell clothes on the market, we were poor. I am very privileged to be here because I come from nothing. My sister is in India and she would say ‘You have a big shop now’.’

John Lewis boss: Customers want to buy now, pay later

By Ruth Sunderland

Published: 16:50 EDT, 12 August 2023 | Updated: 16:57 EDT, 12 August 2023

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Adoring fans have once again rallied around Lewis Capaldi after he announced an extended break from performing due to his Tourette’s battle – as experts say it is impossible to predict when he will return to the stage. 

The Scotsman announced today that all upcoming 24 shows for his Broken by Desire to Be Heavenly Sent tour have been axed, just days after he struggled to finish his headline set at Glastonbury on Saturday.

The singer, 26, took to social media to say it was ‘obvious’ he needs to spend ‘much more time getting my mental and physical health in order’, branding the decision ‘the most difficult of my life.’ 

Tourette’s experts today told MailOnline that it was not possible to know when Lewis would be back performing because every individual has different treatment needs.

They also praised ‘courage’ in ‘openly addressing his condition’, labelling it ‘an inspiration’ to many other sufferers – but warned that his recovery cannot be rushed. 

Meanwhile fans took to social media to show support for the star, as one wrote: ‘If you don’t record or perform again, we all will be sad. But you have done more than millions of people, have done. You are enough, you have done enough. Look after yourself!’ 

The Scotsman had already taken three weeks off before his gig on the Pyramid Stage at the weekend, but today admitted it was not enough and that he was ‘still learning to adjust to the impact of my Tourette’s.’ 

The singer-songwriter became emotional as he started losing his voice during the performance, prompting him to apologise to the crowds – who then helped him finish his songs in heartwarming footage that quickly went viral. 

But posting on Instagram on Tuesday, Lewis confirmed that he was cancelling the planned 24 live dates he had scheduled for the rest of the year. 

‘Hello everyone. First of all thank you to Glastonbury for having me, for singing along when I needed it and for all the amazing messages afterwards. It really does mean the world,’ he began.

‘The fact that this probably won’t come as a surprise doesn’t make it any easier to write, bit I’m very sorry to let you know I’m going to be taking a break from touring for the foreseeable future.

‘I used to be able to enjoy every second of shows like this and I’d hoped 3 weeks away would sort me out. But the truth is I’m still learning to adjust to the the impact of my Tourette’s and on Saturday it became obvious that I need to spend much more time getting my mental and physical health in order, so I can keep doing everything I love for a long time to come.’

‘I know I’m incredibly fortunate to be able to take some time out when others can’t and I’d like to thank my amazing family, friends, team, medical professionals and all of you who’ve been so supportive every step of the way through the good times and even more during this past year when I’ve needed it more than ever.’

‘I’m so incredibly sorry to everyone who had planned to come to a show before the end of the year but I need to feel well to perform at the standard you all deserve. Playing for you every night is all I’ve ever dreamed of so this has been the most difficult decision of my life. I’ll be back as soon as I possible can. All my love always, Lewis’. 

Lewis had 24 remaining dates scheduled for his Broken by Desire to Be Heavenly Sent tour, ending in Belfast at Boucher Road Playing Fields on September 3.

Dr. Monika Wassermann has a specialty in neurology and an extensive background in treating patients with Tourette’s syndrome.

She told MailOnline today: ‘Lewis Capaldi’s openness about his struggle with Tourette’s Syndrome has been a source of inspiration for many. 

‘He has shown that it’s possible to have a successful career in a demanding profession despite dealing with a neurological condition. 

‘His decision to prioritise his health and take a break from touring also sends a strong message about the importance of self-care.’ 

But the expert said that when or whether Lewis would sing live again ‘would depend on a multitude of factors and is deeply personal.’

She explained: ‘These factors could include how effectively his symptoms can be managed, his comfort level with performing under those conditions, and his personal desires and ambitions. 

‘From a medical standpoint, it’s certainly possible to manage Tourette’s symptoms to a degree where performing would be feasible, even if adaptations are necessary.

‘However, it’s important to stress that every person’s journey with Tourette’s is unique, and what works for one might not work for another.’ 

However she added: ‘While I can’t predict Lewis Capaldi’s exact path, his resilience, combined with the advances in understanding and managing Tourette’s syndrome, make me hopeful for his future.’ 

Meanwhile, Abbas Kanani, a superintendent pharmacist at Chemist Click Online Pharmacy, told MailOnline the length of Lewis’s break would depend on his own specific needs. 

He said: ‘Longer or physically demanding performances may necessitate more frequent or extended breaks to help the performer manage their tics and prevent fatigue. 

‘Some performers may prefer shorter, more frequent breaks, while others may prefer longer breaks less frequently. Professionals will take into account their overall physical and mental stamina, tic patterns and length of performances to determine appropriate break durations.’ 

He added: ‘Performing on stage can bring about a range of emotional responses such as excitement, anticipation, stress and anxiety which can all be triggers for tics. 

‘Additionally, certain sounds, smells or sensory stimuli may also influence the frequency and intensity of tics. 

‘Touring can also impact a performer’s sleep pattern, often leaving them sleep-deprived and this can lead to tics becoming more frequent or pronounced.’ 

Mr Kanani said that managing tics while performing can be ‘challenging’, but said there are strategies that can help. 

He said deep breathing exercises, relaxation techniques or engaging in activities that promote focus and relaxation can be beneficial pre-performance. 

He explained: ‘This may help to manage anxiety and reduce tic severity. If he experiences temporary periods of tic reduction or remission, known as ”tic-free windows”, scheduling performances during these periods could help minimise the impact of tics. 

‘Switching the focus on specific aspects of the performance, such as musical notes or lyrics or using mental imagery techniques to redirect attention helps some people.’

While he may not perform live for some time, there could be some good news for fans, according to Dr Joseph Ambani, who suggests making and recording new music could form part of Lewis’s break and treatment plan. 

He told MailOnline: ‘A break from touring for someone like Capaldi could involve creating an environment of tranquility and calm, a stark contrast to the high-octane world of concerts and tours. 

‘This period could be focused on rest, self-care, and addressing his health concerns without the constant pressures of the spotlight. 

‘Engaging with his music in a low-stress environment, such as songwriting or studio recording, could also form a part of this period.’ 

He added: ‘It’s a time to rejuvenate physically and mentally, a step back to eventually take two steps forward.’ 

Fans rallied around the star after footage of him struggling to sing at Glastonbury due to his Tourette’s symptoms went viral online.

‘Stay strong and keep fighting, you’re amazing,’ one fan wrote on Twitter, while another added: ‘Just incredible, you have got this, just keep being you.’ 

One spectator branded the Scotsman ‘absolute class’ for ‘soldiering on’, while another tweeted: ‘Can’t imagine what it takes to have the guts to perform whilst living with Tourette’s but hope Capaldi knows his fans are with him every step.’ 

Lewis has been open about his struggles with Tourette’s – a neurological condition characterised by a combination of involuntary noises and movements called tics, which can cause speech and voice abnormalities. 

Others said the ‘very moving’ performance will ‘go down in history’ while also helping to raise awareness about the condition. 

A Tourette’s sufferer added: ‘I can tell you that he would have been holding them tics in all day and he would have been exhausted, hope he’s okay, he’s now my hero.

‘What he has just done for awareness he has put his career on the line, he’s my hero he gave it a go, well done!’ 

In his recently released documentary How I’m Feeling Now, Lewis explored his struggles with Tourette’s and how he tried to reconnect with friends and family as he returned to Scotland after becoming famous. 

A touching video of Lewis onstage in Frankfurt showed the moment fans took over singing for him as he struggled with Tourette’s symptoms in February this year.  

He can be seen turning away from the microphone as he struggled with his head and shoulder twitching uncontrollably, but much like in Glastonbury at the weekend, his legions of fans helped him sing the rest of the song. 

Back in September, Lewis first revealed he had Tourette’s and explained that he wanted to go public as he ‘didn’t want people to think he was taking cocaine.’ 

The singer said the diagnosis was recent and explained that he was learning new methods to deal with it ‘all the time’ – including being treated with Botox injections to freeze his muscles to try to control the tics. 

Discussing the diagnosis, Lewis said it filled him with relief, saying: ‘I’m a hypochondriac so I immediately think death, it’s more than worry, I have an all-consuming sense of doom.

‘So when I got the Tourette’s diagnosis, I was like thank God for that, at least it’s not life threatening and everything’s good to go.’

Despite his struggles during his Glastonbury performance at the weekend, the star had insisted on finishing his set and the show came to an emotional close as the crowds sweetly sang Someone You Love for him.

The heartwarming moment saw Lewis walk across the stage and sing short bursts of the track, while the kind crowds sang at the top of their voices to support the star.

Near the end of his set, he told the crowd: ‘I feel like I’ll be taking another wee break over the next few weeks, you probably won’t see much of me for the rest of the year.’ 

During his Glastonbury show, Lewis also candidly opened up about why he had taken a three-week break away from the stage before the music festival.

He said: ‘I took three weeks off because I’ve been non-stop at the start of the year and I wanted a break for my head and my mental health, I wanted to come back and do Glastonbury, because it’s so incredible.’

His fans have since taken to Twitter to reassure him that they will be waiting for him, however long it takes. 

‘You’re an amazing artist and create magic in your songs,’ wrote one, ‘take a break and you will be back wowing the fans again in no time.’ 

Another said: ‘Everyone is behind you and the love for you is always here. 

‘Get yourself that break, everyone will be here when you return stronger than ever.’  

A string of famous famous faces have also shown their support for the Scottish star. 

TV presenter Dan Walker wrote: ‘Special moment at #Glastonbury as the crowd help Lewis Capaldi .’

Lewis last year said learning he had Tourette’s was ‘quite a relief’, and he is now embracing his new role as ‘poster boy’ for the condition.

Appearing on the The Jonathan Ross Show he said: ‘I do have Tourette’s. I didn’t mean for it to be a big thing. I twitch a lot. 

‘My left shoulder goes up and I do this with my head. Now I am the poster boy for Tourette’s. I’ll take it, I’ll gladly accept that.

‘It was seven or eight months ago [that I was diagnosed]. I thought I had a degenerative disease. So to be told it was in fact that I have Tourette’s, as you can imagine, was quite a relief. It’s fine. Everything works.

‘I thought I was quite alone in being twitchy. It’s been a relief and, if anything, nice to know I have a community. I’m quite an anxious person, I really start to overthink things if something’s wrong – this was a weight off my mind.’

Capaldi admitted his condition can ‘really affect my performance’, but his tics come in ‘ebbs and flows’ – and he tends to notice the effects of Tourette’s less if he takes care of himself with regular exercise and a healthy lifestyle.

He told host Jonathan Ross, 62, on the ITV chat show: ‘It definitely gets worse sometimes on stage. Sometimes it can really affect my performance.

‘It ebbs and flows. If I look after myself, exercise, go to the gym – which is the same thing by the way – if I don’t drink too much or take a walk in the park and breathe in a nice summer air. I f***ing hate commitment. I’m a loose guy.’ 

With Lewis Hamilton pushing for a new five-year, £250million contract at Mercedes – reestablishing him as the sport’s biggest earner at £50m per year – it raises the question as to where his new deal puts him compared to other major sporting stars.

Hamilton remains the face of F1 – even at 38 – and while he is struggling to compete  with Max Verstappen on race days, this new contract would finally see him overtake the Dutchman off the track. 

The mega-money deal would NOT put him at No 1 in terms of the best sporting contracts out there – but would earn him a spot inside the top four.

It is football – and particularly in Saudi Arabia – where money is reaching eye-watering levels.

Mail Sport takes a look at the biggest contracts in the world of sport… 

Football is king and that has never been more true than in the Kingdom of Saudi Arabia right now. 

Money is pooling right through the Saudi Pro League since Cristiano Ronaldo forced his way out of Manchester United – with the help of an explosive interview with Piers Morgan – to end up at Al-Nassr.

The five-time Ballon d’Or winner’s contract is worth a staggering £173million per year – making him comfortably No 1 in the battle for the greatest annual salary in sport.

The Ronaldo effect has transformed the Saudi Pro League in terms of interest from fans around the world, and also in convincing other top-level stars to make the move. 

Take Chelsea midfielder N’Golo Kante as an example, he has sky-rocketed his earnings with a move to Al-Ittihad.

The soft-spoken French footballer is understood to be penning a huge £86m-a-year salary on a two-year contract in Saudi Arabia.

One of his new team-mates will be Ballon d’Or holder Karim Benzema, who swapped Real Madrid for the Middle East with his own £86m-a-year deal. 

Kalidou Koulibaly, Edouard Mendy and Hakim Ziyech are all being pursued, with the money showing no signs of drying up.

Outside of the top three most lucrative deals to date – Lionel Messi’s Inter Miami move is littered with add-ons that make it difficult to quantify exactly what he can earn over 12 months in the USA – it is Formula 1, NBA and NFL that take centre stage. 

Hamilton, if he pens his huge new deal to remain with Mercedes, would rank fifth, pushing his bitter Red Bull rival Verstappen, who earns £40m-a-year on his five-year deal, down to 10th place.

Mail Sport understands the seven-time world champion wants to race on to the age of 43, making himself £250m in the process, though it remains to be seen if the team are willing to bow to this desire.

A source with knowledge of the protracted negotiations told us: ‘Lewis wants five years, and if it were just a one-year extension I don’t think he’d accept it.

‘They may need to reach a compromise because, while George (Russell) has probably made peace with the idea of Lewis being around for a couple of years, he might not accept being in the shadow of his team-mate for the long-term.

‘There is always a lure about Ferrari, but Lewis will probably think that his only hope of winning his eighth title is by staying where he is.

‘Money is not a delaying factor.’

Outside of the top four, it is American sports stars who take places six through nine.

Golden State Warriors guard Stephen Curry takes home £42.8m every season, while Chicago Bulls star Zach Lavine earns just shy of Curry with £42.79m.

NBA Finals MVP and two-time league MVP Nikola Jokic, of the Denver Nuggets, is on a £42m-a-year deal. 

Two NFL quarter-backs also crack the list of the top 10 salaries in sport.

Lamar Jackson, of the Baltimore Ravens, won his game of chicken with the franchise to land a mega deal, earning him £41.4m a year.

While Jalen Hurts of the Philadelphia Eagles is just shy of Jackson, earning £40.27m every season.

Verstappen is the best-paid driver in Formula One right now but all that will change if Hamilton lands the huge five-year deal he is seeking. 

Money expert Martin Lewis reveals the one button holidaymakers should NEVER press when they’re abroad

By Ailbhe Macmahon For Mailonline

Updated: 03:27 EDT, 23 June 2023