After implementing a budget cap on the F1 teams, there are talks underway to also introduce a salary cap for drivers.
Ferrari team principal Mattia Binotto revealed that talks are underway about a potential cap on drivers’ salaries. F1 introduced a budget cap in the 2021 season but at that time it was decided that the restrictions would only apply to expenditure relating to car performance.
As drivers’ salaries have no relation to car performance, it was not included in the cap. Similarly, the salaries of the top three team personnel were also excluded. So superstar designers or strategists could still make a difference.
However, in a recent interview, Binotto revealed that a salary could soon be implemented as the teams now understood the importance of capping overall expenditure.
Max Verstappen’s manager Raymond Vermeulen called the salary cap ‘total idiocy.’ With Verstappen having signed a long-term deal with the Red Bull, the effects of a salary cap on his salary are yet to be seen.
There is talk of a salary cap (salary cap / salary allowance) for F1 drivers. Discussion revived by some team bosses. https://t.co/QhYfFglDY4
— Junaid #JB17 (@JunaidSamodien_) May 28, 2022
“Drivers have a value-enhancing effect on teams,” Vermeulen explained.
“It would turn the world upside down to impose a financial constraint on the driver, while the added value of the driver for the team can be exploited indefinitely.”
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F1 drivers against the salary cap
During the weekend of the Monaco GP, the drivers were asked about their opinion on the salary cap. While many were unaware of any talks being held on the matter, others were totally against it.
“I hope not,” Valtteri Bottas joked. “I’m not a big fan of that idea. The drivers still have to get something from it. Maybe they can reduce the Team Principal salaries. We’ll see. If it is fair for both Team Principals and drivers, then it’s okay.”
Sebastian Vettel said, “I don’t know who brought it up and what is their intention. I don’t know if it will ever come or not. Maybe the teams want to make more money?”
Furthermore, Alpine’s Fernando Alonso also showed his disapproval. He said, “I don’t think that’s needed. Drivers have always been excluded from this topic.
“The drivers, they are using us more and more to promote Formula 1. We do more and more events, we’re more in contact with the fans, the paddock. They’re asking more and more from us and they benefit from that. We should be outside of this cap.”
Also Read: Max Verstappen admits he won’t be too much involved with F1 after his racing career
