“A working group will be created including the drivers” – The F1 salary cap is set to be decided in consultation with teams and their drivers.
The controversial F1 salary cap is set to be implemented in the sport, soon enough. For this, the FOM will create a working group, where teams and drivers will mutually decide on the upper limit. The salary cap is expected to be a part of the cost cap introduced from this season.
“As 2021 sees the introduction of a cost cap for the first time in Formula 1, various topics around controlling costs and how this overall objective can be achieved over the coming years were tabled during the meeting. As part of this, a working group will be created – including the drivers themselves – to discuss the topic of driver and senior team management contracts.”
Lewis Hamilton has his say on the F1 salary cap
The reigning champion is not very pleased with the idea of a salary cap, though. His argument is that drivers are the stars of the sport, and deserve high salaries. His other argument is that the sport virtually controls all their individual rights. If the cap is approved soon enough, then it will hamper Hamilton’s existing deal with Mercedes.
“I do think that the drivers here are, naturally, the stars of the sport. They’re the ones that are seen, those are the ones that bring their brands and their reputation helps elevate the sport and help it travel globally around the world. This sport controls, pretty much, the driver’s image.”
“I do think about the next up-and-coming young stars that are coming through and I don’t particularly see why they shouldn’t be handicapped if they’re bringing something huge to the sport. It is a multi-billion dollar sport and they should be rewarded for what they do bring to it.”
Read more: F1 Driver Salary: Is a pay cut to Lewis Hamilton justified? The arguments for and against it
