Lewis Hamilton is one of the, if not the highest paid driver in F1 today and he feels that drivers of his pedigree deserve the paycheck.
Over the last few years, there have been rumors that F1 will introduce a salary cap. The exact figure hasn’t been decided, but there will be a total amount, using which the teams have to field their line-up.
The main reason for doing this will be to reduce costs for the teams. F1 has become a lot stricter with budget caps since 2021, and the cap will decrease in the coming few years. Adding a salary cap is also a part of it, that is being taken into consideration.
|@LewisHamilton asked about Franz Tost’s view F1 drivers should accept salary caps of $10 million and be happy to drive the cars:
“Who said that?”
“Franz Tost.”
“Who’s that?”
“Er… team principal of AlphaTauri.”
“Oh…” #F1 #BahrainGP pic.twitter.com/NO43wq5YjC— RaceFans (@racefansdotnet) November 26, 2020
Seven-time World Champion Lewis Hamilton however, does not agree wholeheartedly. In a press conference, he was asked about his thoughts regarding the implementation of a drivers’ salary cap.
The Mercedes driver replied by saying it’s not something he thinks about, because it will come into effect when he probably won’t be in F1 anymore. Nevertheless, Hamilton feels that drivers deserve the big salaries they get.
F1 drivers help a multi-billion dollar sport grow even more, says Lewis Hamilton
Hamilton revealed that he’s not personally opposed to having a cap implemented. However, for a sport that is ever growing and generates billions in revenue, he does not want the new stars to feel ‘handicapped’.
When drawing comparisons with athletes from other sports, Hamilton explains why F1 is different. He talks about how the image of a driver is completely controlled by the team they’re a part of.
“The drivers here are the stars of the sports,” Hamilton said. “They’re the ones that bring in their brands. Their reputation elevates the sport and helps it travel globally. If you look at other sports, there have been salary caps in some of them.”
“I think the difference in those places is that the individuals own their image,” he continued. “They can try to maximize their image elsewhere, whereas in F1, the sport controls the driver’s image.”
There has been nothing official from F1 regarding when/if the driver’s salary cap will be implemented. However, it’s widely believed that it will be done within the coming few years.
