9 hours agoForm 1 takes drastic measures to save the crisis
Periskopi(5 years ago)
(5 years ago)The difficult times the world is going through today because of its pandemic have also affected Formula 1, who has decided to take drastic measures to escape the crisis. The regulation that sets a ceiling for pilot salaries is expected to be approved soon, forcing teams to cut costs. According to the media, each team will have [...]
That means Lewis Hamilton significantly lowers his salary, starting in 2022. Hamilton pays $45 million and is currently the only one affected by this rule. Bottas gets about $10 million. Adding backup pilots, the salaries total nearly $60 million. Put otherwise, Mercedes should cut $30 million.
In this situation the team seems happy with the country, as they would significantly reduce their salaries, while the teams with economic potential could not lure pilots with salaries. Talks between Liberty Media and the Association of Pilots are expected soon to begin, where there will be heated discussions on this sensitive issue.
