F1 cancelled this year?

F1 cancelled this year?

Author
Discussion

Eric Mc

111,545 posts

220 months

Tuesday 26th May
quotequote all
TheDeuce said:
Eric Mc said:
I don't think it's the budget cap that is causing 25% redundancies in the company right now.
As I said, me either. It would have been but other events have overtaken it.
McLaren have stated that it's a combination of no F1 so far this year and a collapse in road car sales.
Did the government actually buy any of their respirators?

North West Tom

10,819 posts

132 months

Tuesday 26th May
quotequote all
thegreenhell said:
Apparently they are cutting 1200 staff, of which only 70 wil be from the F1 side.
70 is still quite a lot of people. What kind of roles are going to be cut I wonder?

TheDeuce

5,508 posts

21 months

Tuesday 26th May
quotequote all
Eric Mc said:
McLaren have stated that it's a combination of no F1 so far this year and a collapse in road car sales.
Did the government actually buy any of their respirators?
I think they cancelled all mass qty orders from the various teams. There was no overall shortage in the end.

The teams still got paid for the R&D effort etc.

The no F1 thing must be so costly. Impossible to know the agreements each team has with each sponsor but it's a certainty that reduced races/exposure will equate to a relative drop in sponsor income.

Road car sales.. virtually none existent for the last few months and then sure to be a handful of slow years to follow. By which time road car manufacturers will also be facing new waves of emmisions legislation and penalties.

It's a st sandwich really.


Eric Mc

111,545 posts

220 months

Tuesday 26th May
quotequote all
North West Tom said:
thegreenhell said:
Apparently they are cutting 1200 staff, of which only 70 wil be from the F1 side.
70 is still quite a lot of people. What kind of roles are going to be cut I wonder?
Based on suggestions from PHers on this thread, tyre changers at pit stops.

jsf

17,046 posts

191 months

Tuesday 26th May
quotequote all
Eric Mc said:
McLaren have stated that it's a combination of no F1 so far this year and a collapse in road car sales.
Did the government actually buy any of their respirators?
McLaren made the trolley the respirator was mounted to.

jsf

17,046 posts

191 months

Tuesday 26th May
quotequote all
North West Tom said:
70 is still quite a lot of people. What kind of roles are going to be cut I wonder?
Mostly be in design and hospitality.

SmoothCriminal

2,883 posts

154 months

Tuesday 26th May
quotequote all
McLaren are always bleating about something recently be it cost cap or cost to race etc etc yet still managed to sign the third highest paid driver on the grid for 21.

I very much doubt he took a $14.5 million pay cut to drive for mclaren.

REALIST123

13,500 posts

108 months

Tuesday 26th May
quotequote all
SmoothCriminal said:
McLaren are always bleating about something recently be it cost cap or cost to race etc etc yet still managed to sign the third highest paid driver on the grid for 21.

I very much doubt he took a $14.5 million pay cut to drive for mclaren.
You could well make a point. 70 x normal salary could cover a good chunk of the difference between Sainz and Ricciardo.

Fundoreen

1,495 posts

38 months

Tuesday 26th May
quotequote all
Its motor racing and they want the best results in order to get more prizemoney and sponsor payments for the team as a whole to survive.
I guess if it was a biscuit factory you would question one new highly paid employee at this time.

ralphrj

2,981 posts

146 months

Tuesday 26th May
quotequote all
REALIST123 said:
SmoothCriminal said:
McLaren are always bleating about something recently be it cost cap or cost to race etc etc yet still managed to sign the third highest paid driver on the grid for 21.

I very much doubt he took a $14.5 million pay cut to drive for mclaren.
You could well make a point. 70 x normal salary could cover a good chunk of the difference between Sainz and Ricciardo.
1. Salaries of big name drivers are often paid by sponsors. Lewis Hamilton has stated publicly that he was never a McLaren driver as his salary (even pre-F1) was always paid by Mercedes so that is who he considered to be his employer.

2. Plenty of drivers have in the past had 'pay by points' contracts. Nelson Piquet had this at Benetton in 1990 and won both the last 2 races which earned him $2m. Damon Hill was offered a '$1m per win and nothing else' deal to drive for McLaren in 1998 in place of David Coulthard but (knowing how unreliable their 1997 car was) rejected it by angrily hanging up - not his best decision.

Great Dane

2,376 posts

121 months

Tuesday 26th May
quotequote all
The budget cap will mean redundancies both at the teams and the suppliers.... unless the rumours of Ferrari to Indy and or Sportscars are true to redeploy money and spend the money they expected to spend in F1 :-)

thegreenhell

6,958 posts

174 months

Tuesday 26th May
quotequote all
ralphrj said:
Damon Hill was offered a '$1m per win and nothing else' deal to drive for McLaren in 1998 in place of David Coulthard but (knowing how unreliable their 1997 car was) rejected it by angrily hanging up - not his best decision.
I've read that it was $2m basic plus $1m per win. Instead he took the $5m offer from Jordan, and won the same number of races in 1998 as Coulthard anyway (just one). The big unknown is how he would have fared against Hakkinen in the same team.

Ahonen

4,509 posts

234 months

Tuesday 26th May
quotequote all
thegreenhell said:
The big unknown is how he would have fared against Hakkinen in the same team.
I think we can make an educated guess.

The Hypno-Toad

9,996 posts

160 months

Wednesday 27th May
quotequote all
thegreenhell said:
ralphrj said:
Damon Hill was offered a '$1m per win and nothing else' deal to drive for McLaren in 1998 in place of David Coulthard but (knowing how unreliable their 1997 car was) rejected it by angrily hanging up - not his best decision.
I've read that it was $2m basic plus $1m per win. Instead he took the $5m offer from Jordan, and won the same number of races in 1998 as Coulthard anyway (just one). The big unknown is how he would have fared against Hakkinen in the same team.
What ever the deal was the story at the time was that it was withdrawn after Damon sent his lawyer to negotiate on his behalf to an appointment with Ron. Ron reportedly said if he can't be bothered to come to talk to me himself, he isn't driving for Mclaren.

That sounds a bit weird knowing Damons reputation as being a thoroughly decent bloke but I think if that is the case, part of the his trouble within F1 at the time clearly came from his advisors & hangers on. Anyone even remotely interested in F1 knew that you wouldn't do that to Big Ron.

TwentyFive

90 posts

21 months

Wednesday 27th May
quotequote all
SmoothCriminal said:
McLaren are always bleating about something recently be it cost cap or cost to race etc etc yet still managed to sign the third highest paid driver on the grid for 21.

I very much doubt he took a $14.5 million pay cut to drive for mclaren.
Planet F1 reporting this morning that he has taken a 60 percent pay cut to leave Renault.

He was on €25m at Renault and will be on €10m at McLaren.

However he will get €400k for every podium he scores and €1m per win.

https://www.planetf1.com/news/daniel-ricciardo-mcl...

TheDeuce

5,508 posts

21 months

Wednesday 27th May
quotequote all
TwentyFive said:
Planet F1 reporting this morning that he has taken a 60 percent pay cut to leave Renault.

He was on €25m at Renault and will be on €10m at McLaren.

However he will get €400k for every podium he scores and €1m per win.

https://www.planetf1.com/news/daniel-ricciardo-mcl...
Given the factors involved, that seems like a pretty reasonable deal for all parties.


rev-erend

20,414 posts

239 months

Wednesday 27th May
quotequote all
Looks like the days of high salaries for new driver contracts are for the moment, a thing of the past.

Deesee

3,918 posts

38 months

Wednesday 27th May
quotequote all
rev-erend said:
Looks like the days of high salaries for new driver contracts are for the moment, a thing of the past.
10 mill basic and 40k a point are in line with Max’s contract and a little more than CLC’s.

The Renault deal was outrageous, I’ve seen heists take longer and yield less cash.

TheDeuce

5,508 posts

21 months

Wednesday 27th May
quotequote all
Deesee said:
10 mill basic and 40k a point are in line with Max’s contract and a little more than CLC’s.

The Renault deal was outrageous, I’ve seen heists take longer and yield less cash.
Indeed. And with the raft of upcoming talent the established big hitters will have to get real about their salary expectations moving forwards. Except lord Lewis of course, although even he might have to re-think his opening offer of driving for £60m a year.. scratchchin

As for DR specifically, after his dull Renault holiday he's now set for life and can crack on worrying more about performance and race wins hopefully. Still hopeful he'll find his way back to a top car before too long...

Deesee

3,918 posts

38 months

Wednesday 27th May
quotequote all
Latest on the european calendar.. which avoids any political implications (at present).. no hockenheimfrown

Jul 5 - Austria
Jul 12 - Austria
Jul 19 - Hungary
Aug 2 - Britain
Aug 9 - Britain
Aug 16 - Spain
Aug 30 - Belgium
Sep 6 - Italy

To be followed by Sochi & Baku..