Racers believe it is unfair to limit their pay as they are the ones fighting on the track and risking their lives, but the management of the teams, constrained by budget constraints, has a different view.
Toto Wolff, Mercedes: “This is a moot point. Formula 1 has been in a difficult situation lately. The sport is growing fast, Formula 1 is making more and more money, some of it goes to the teams, but our budget is limited to $140 million for a thousand employees To pay racers $30-40 million in the conditions of current inflation seems unreasonable to me.
Of course, the riders have a different point of view. And in their place I would object too. But in America’s most successful sports leagues in the world, player wage limits were introduced 15 years ago. It works great there. Formula 1 doesn’t have a ready-made solution yet, but we have to find one. This allows teams to become more independent from state-backed funds.
On the one hand I believe that salaries of 30 – 40 – 50 million dollars can’t be if the rest of the team shares 140 million dollars, on the other hand the racers are real superstars, they deserve the right to be one of the highest paid workers in our sport.
In terms of salaries, they already are, but we need to find a way to enable them to make deals with partners and suppliers that would pay them, say, two-thirds of current salaries.
Source: F1 News
I’m Todderic Kirkman, a journalist and author for athletistic. I specialize in covering all news related to sports, ranging from basketball to football and everything in between. With over 10 years of experience in the industry, I have become an invaluable asset to my team. My ambition is to bring the most up-to-date information on sports topics around the world.
