Salary Cap for F1 Drivers

[Exige77]

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-...

[Exige77]

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.

[Exige77]

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.

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 ?

[Exige77]

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” ?

It was the birth of the company car

Edited by Exige77 on Wednesday 28th October 15:20