Formula 1 has put budget caps in place in 2020 and since last year each team is allowed to spend no more than $145 million per season, and the amount will decrease by another $5 million over the next two years.
Drivers’ salaries are not covered by the budget cap, and according to Grand Prix Drivers’ Association (GPDA) president Alex Wurtz, drivers are up against a salary cap and the issue is not being considered at this time.
“There was one meeting on this subject, where the representatives of the GPDA gave their opinion very clearly,” Wurz told Racingnews365. Why should we vote against our interests? We said we want to understand who will ultimately benefit from the introduction of the salary cap, and what the implications will be for sport in general. This must be studied first.
Our next question is: should the restrictions be set in the regulations, and should the FIA monitor them? Is such a check even financially possible? It can be much easier to get the teams to match each other.
I don’t know what the current situation is. It all depends on the FIA or the teams that can come to an agreement among themselves.”
Source: F1 News
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