formula 1
“Funny coincidence”: Zoff about the salary limit for drivers
Aston Martin driver Sebastian Vettel during a press conference. Photo: Sergei Grits/AP/dpa
© dpa-infocom GmbH
Formula 1 has another hot topic again. The top stars of the racing series and their bosses are arguing about a salary limit for the drivers. The team bosses bring US sport into play as a role model.
Sebastian Vettel could not resist the biting mockery. The four-time world champion finds it strange that Formula 1 wants to cut back on driver salaries in the midst of a boom.
“It’s a strange coincidence when the teams can earn money with Formula 1 races for the first time and something like a salary limit for drivers appears,” said Vettel on the negotiations between the racing teams about the future financial framework. It is being discussed whether the salary expenses for both regular drivers will soon no longer be allowed to exceed 30 million dollars per year.
Climate in the paddock slightly irritated
In the controversy, the industry’s top stars and their bosses face each other. The climate in the paddock is slightly irritated when it comes to salary before the guest appearance in Canada on Sunday (8 p.m. / Sky). A limit is “completely wrong,” said world champion Max Verstappen, who is one of the top earners alongside superstar Lewis Hamilton. “Formula 1 is becoming more and more popular at the moment, and everyone is making more and more money,” said the Red Bull driver, pointing out that the drivers ultimately “run the show and risk their lives”. A top salary is appropriate for this.
The team leaders, however, argue with the growing cost pressure and the factor of proportionality. Mercedes team boss Toto Wolff referred to the budget limit of 140 million dollars, which is becoming more and more of a problem for the top teams this year due to high inflation. Driver salaries do not currently fall under the spending limit. However, an additional pay slip of up to 50 million is “inappropriate” if the entire racing operation and up to 1000 employees have to be financed with 140 million, said Wolff.
Budget limit should ensure equal opportunities
The budget limit in Formula 1 has been in effect since last year and is intended to ensure more equal opportunities between the teams. Some argue that driver salaries should also fall under this regulation, because otherwise the logic of the cap and the competition between engineers would be undermined. So the richest teams can always employ the best pilots.
The drivers, however, point to the negative consequences of a salary limit for the junior series. Investors there often speculate on earning money from future Formula 1 contracts for their protégés. “If that is limited, then the already great risk for a financier will be even greater,” warned Alfa Romeo driver Valtteri Bottas.
“I won’t be here much longer, but I’m thinking of the young generation and I don’t think they should be slowed down,” said record world champion Hamilton. After all, Formula 1 has now tripled its sales to $14 billion.
US sport as a role model?
As a possible way out of the dilemma, the bosses want to borrow from US sports. There, in most leagues, a salary limit for each team has long been established. For the top stars, the direct salary usually makes up the smaller part of the income, the larger chunk comes from personal sponsors and marketing shares. “We have to look at it and learn from it, even if we don’t have to copy it,” said Haas team boss Günther Steiner.
With diplomatic skill, colleague Wolff wants to soften the fronts. “In order to make it really viable, all top earners should be included,” said the Austrian and made it clear: “That means not only the drivers, but also the team bosses and managers should be covered by the budget limit.”