Salary Cap for F1 Drivers
Discussion
Agreed in principle from 2023 on and also for top 3 team employees.
Although the numbers have not been finalised, the provisional plan is to restrict driver salaries to $30m for the two drivers combined – which for example could be split at $20m and $10m.
https://www.motorsport.com/f1/news/30m-salary-cap-...
Although the numbers have not been finalised, the provisional plan is to restrict driver salaries to $30m for the two drivers combined – which for example could be split at $20m and $10m.
https://www.motorsport.com/f1/news/30m-salary-cap-...
Exige77 said:
Agreed in principle from 2023 on and also for top 3 team employees.
Although the numbers have not been finalised, the provisional plan is to restrict driver salaries to $30m for the two drivers combined – which for example could be split at $20m and $10m.
https://www.motorsport.com/f1/news/30m-salary-cap-...
Max: £29.9mAlthough the numbers have not been finalised, the provisional plan is to restrict driver salaries to $30m for the two drivers combined – which for example could be split at $20m and $10m.
https://www.motorsport.com/f1/news/30m-salary-cap-...
Alex: £100k
Jokes aside it was the next obvious and needed step. Plainly the bigger budget teams post cost caps (the incoming first round of caps) could quickly get in to a bidding war for top talent and send salaries to astronomical levels.
Exige77 said:
Agreed in principle from 2023 on and also for top 3 team employees.
Although the numbers have not been finalised, the provisional plan is to restrict driver salaries to $30m for the two drivers combined – which for example could be split at $20m and $10m.
https://www.motorsport.com/f1/news/30m-salary-cap-...
Yay, that just means more teams bringing in pay drivers, and much more complex deals around things like merchandise ‘image rights’ and travel expenses, as we see in other sports. Will giving a car to the champion count against his salary, and how’s about win bonuses? Although the numbers have not been finalised, the provisional plan is to restrict driver salaries to $30m for the two drivers combined – which for example could be split at $20m and $10m.
https://www.motorsport.com/f1/news/30m-salary-cap-...
Expect Lewis’s new contract to be for five years with break clauses, and expect Max and Charles so get similar new contracts in place before the window closes.
Mark V GTD said:
If the driver contract is signed before the new rule comes in to force the salary will be honoured for as long as the contract is in place. So this will likely see longer contracts being signed prior to the new rules coming in to force.
I can see Lewis doing another 3 years then packing it in. He won’t go hungry. New 3 year deal coming up.Max and Clerky won’t be enjoying the big pay packets long term. They’ll be slumming it on $20M a piece.
How many of the drivers will be affected by the cap?
https://www.racefans.net/2020/03/30/how-much-are-f...
Teams with Lewis, Vettel, Max and Ricciardio. I'm surprised the rest bother getting out of bed.
https://www.racefans.net/2020/03/30/how-much-are-f...
Teams with Lewis, Vettel, Max and Ricciardio. I'm surprised the rest bother getting out of bed.
Sandpit Steve said:
Yay, that just means more teams bringing in pay drivers, and much more complex deals around things like merchandise ‘image rights’ and travel expenses, as we see in other sports. Will giving a car to the champion count against his salary, and how’s about win bonuses?
Expect Lewis’s new contract to be for five years with break clauses, and expect Max and Charles so get similar new contracts in place before the window closes.
They'll find ways to pay them more by proxy. Charles could easily earn more from Armani, Lewis from Tommy Hilfiger etc if it had to come to that.Expect Lewis’s new contract to be for five years with break clauses, and expect Max and Charles so get similar new contracts in place before the window closes.
I wonder if the teams would have been tripping over themselves to limit the amount of money they could earn from F1.
I find it offensive. It's removing earning potential from an individual. It's like the salary caps in football; the teams loved that, and they suggested it was for the good of the sport.
This is socialism in sport.
If the teams can afford it, they can pay it. If they can't then don't.
I find it offensive. It's removing earning potential from an individual. It's like the salary caps in football; the teams loved that, and they suggested it was for the good of the sport.
This is socialism in sport.
If the teams can afford it, they can pay it. If they can't then don't.
DaveE36 said:
They'll find ways to pay them more by proxy. Charles could easily earn more from Armani, Lewis from Tommy Hilfiger etc if it had to come to that.
Indeed. Here’s your contract to drive F1
Here’s your completely unrelated contract as a performance consultant to the wider group.
One presumes the legislation covers this?
Derek Smith said:
I wonder if the teams would have been tripping over themselves to limit the amount of money they could earn from F1.
I find it offensive. It's removing earning potential from an individual. It's like the salary caps in football; the teams loved that, and they suggested it was for the good of the sport.
This is socialism in sport.
If the teams can afford it, they can pay it. If they can't then don't.
In previous times it was possible for teams to make money from F1. Ron, Frank, Flavio and others all made a few Bob. I find it offensive. It's removing earning potential from an individual. It's like the salary caps in football; the teams loved that, and they suggested it was for the good of the sport.
This is socialism in sport.
If the teams can afford it, they can pay it. If they can't then don't.
They are all struggling to make a profit these days and the smaller teams are struggling to even exist.
A budget / salary cap is maybe not a bad thing. The superstar drivers will still make their big bucks in other ways so they won’t lose out.
Is $20M a year plus extras really socialism ?
Gary C said:
As in all business, there are ways around it.
Salary, how is that defined ?
What about personal marketing ? appearances ?, investment ?, paid work for other parts of the business ? Bonuses ?
Who remembers Harold Wilson’s “Social Contract” ? Salary, how is that defined ?
What about personal marketing ? appearances ?, investment ?, paid work for other parts of the business ? Bonuses ?
It was the birth of the company car
Edited by Exige77 on Wednesday 28th October 15:20
Exige77 said:
Derek Smith said:
I wonder if the teams would have been tripping over themselves to limit the amount of money they could earn from F1.
I find it offensive. It's removing earning potential from an individual. It's like the salary caps in football; the teams loved that, and they suggested it was for the good of the sport.
This is socialism in sport.
If the teams can afford it, they can pay it. If they can't then don't.
In previous times it was possible for teams to make money from F1. Ron, Frank, Flavio and others all made a few Bob. I find it offensive. It's removing earning potential from an individual. It's like the salary caps in football; the teams loved that, and they suggested it was for the good of the sport.
This is socialism in sport.
If the teams can afford it, they can pay it. If they can't then don't.
They are all struggling to make a profit these days and the smaller teams are struggling to even exist.
A budget / salary cap is maybe not a bad thing. The superstar drivers will still make their big bucks in other ways so they won’t lose out.
Is $20M a year plus extras really socialism ?
If teams were not making money they'd be out. If the income's dropping, let them manage their own expenditure, balancing investment in the car to that of the driver. Something along the lines of a free market.
From 'our' point of view, I suppose much of the same with only the drivers being forced to reduce their income has a lot going for it, but it's hardly free market economy.
I wonder if the players in the NFL believe it is working for them? I don’t know, but I do know that when how much I could earn was limited by my union, despite me having paid for my own evening classes to increase my range, I was a bit miffed.
Let F1 find its own level. It seems to me a cap on the salary of certain individuals is not the way to go.
TheDeuce said:
Max: £29.9m
Alex: £100k
Jokes aside it was the next obvious and needed step. Plainly the bigger budget teams post cost caps (the incoming first round of caps) could quickly get in to a bidding war for top talent and send salaries to astronomical levels.
Alex: £100k
Jokes aside it was the next obvious and needed step. Plainly the bigger budget teams post cost caps (the incoming first round of caps) could quickly get in to a bidding war for top talent and send salaries to astronomical levels.
That would be excessive for Alex, by at least £50K
It's a good idea, caps are long overdue. Good idea for football players too.
Meanwhile the Government has given Nurses a 3.1% pay rise !
number2 said:
How many of the drivers will be affected by the cap?
https://www.racefans.net/2020/03/30/how-much-are-f...
Teams with Lewis, Vettel, Max and Ricciardio. I'm surprised the rest bother getting out of bed.
Grosjean was on $7m whilst Bottas $8m..... wtf??https://www.racefans.net/2020/03/30/how-much-are-f...
Teams with Lewis, Vettel, Max and Ricciardio. I'm surprised the rest bother getting out of bed.
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