World News – UA – Formula 1 discusses driver salary cap but nothing is agreed


(Reuters) – A proposed cap on Formula 1 drivers’ salaries is under discussion but still a long way off, though teams back the idea, bosses said on Friday

The idea had been bubbling for some time and was put forward last Monday during a virtual meeting of the Formula 1 commission

He proposes a cap of $ 30 million for teams to pay drivers, starting in 2023 They can spend more, but the surplus will come from what will be an annual budget cap of $ 135 million for all teams. by 2023

The budget cap, which will be introduced next year to $ 145 million before rising to $ 140 million for 2022, does not include driver salaries

Six-time Mercedes world champion Lewis Hamilton is paid around 40million pounds ($ 5213million) but set to negotiate a new contract from 2021

Red Bull team manager Christian Horner stressed that nothing had been voted on regarding driver salaries and that contracts agreed before any rule changes should be respected

« There are no firm rules or regulations, it was not voted, it is not part of sports, financial or other regulations, » he told reporters at the Grand Prix ​​d’Emilia-Romagna on the Italian circuit of Imola

« We’ll see where this goes, but this is far from a set of regulations as there are all kinds of legal ramifications that need to be looked at – is it really achievable? »

« Formula 1 teams, to be sustainable and attractive sports franchises, have to be profitable like any other business and I think we all have to get there, » said the Austrian

« On the other hand, it is clear that the drivers, the ones in Formula 1, are the best in the world and should earn high salaries like all the other big stars in the sport »

Hamilton said he was unaware the topic had been discussed this week and that the delay in signing a new deal had nothing to do with it

« It’s a surprise for us I think it is important that the GPDA (Grand Prix Drivers Association) works closely with Formula 1 and starts discussions, » said the Briton

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Formula 1, Lewis Hamilton, Mercedes AMG Petronas F1 Team, Lando Norris

World News – AU – Formula 1 discusses driver salary cap but nothing is agreed
Associated title :
Formula 1 discusses of the salary cap for drivers but nothing is agreed
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