Max Verstappen says Formula 1 introducing a salary cap for drivers is “completely wrong” for the aspiring drivers in the sport.
Formula one introduced a budget cap last year, limiting the teams to spending $145 million per year. This figure has been lowered down to $140 million for the 2022 season but there are exemptions, including the driver’s salary.
However, there have been speculations of a potential cap of $30million across both the team’s drivers but so far no consensus has been reached on implementing it.
A shift like this could impact drivers like Verstappen, who has an existing long-term contract with the team worth £40 million (per year) for the next five years.
The reigning world champion finds it a bit vague and says it made no sense. He believes that with the increasing popularity of the sport, everyone is making more money including the teams and the F1 group.
He further adds, “why would the drivers with their IP rights and everything be capped, [the people] who actually bring the show and put their lives at risk? Because we do, eventually. So for me, it’s completely wrong.”
The current championship leader also warned about the negative impact it would have on young drivers aspiring to race in Formula One.
He says these young drivers rely on money from sponsors to fund their progression through junior categories in exchange for a percentage of their future earnings in F1.
So it would adversely affect the junior categories as well.
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F1 drivers furious over more cost cap restrictions
Verstappen’s opinion was backed by Lando Norris, another driver who has a long-term deal with his team, keeping him in McLaren until the end of 2025.
“If it gets capped and so on, it’s much harder and it will interest people much less to ever invest into young drivers and invest into people having chances to get to Formula 1 in the first place.” said the young British driver.
A number of drivers have questioned the validity of this proposition including Fernando Alonso. He does not believe that f1 requires a salary cap, noting the number of work drivers put in to promote the sport.
While Fernando Alonso believes that it is unnecessary, Sebastian Vettel has also indicated his opposition to it. Carlos Sainz says that it is a very illogical idea to cap the drivers given where the sport is at the moment.
With the number of events, they’ve been doing and the possibility of the championship increasing to 25-30 races. He feels the salary cap just doesn’t make sense.
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