Why F1 driver salary cap is legally impossible in short-term
Why F1 driver salary cap is legally impossible in short-term
Ferrari team principal Mattia Binotto has warned any potential cap on F1 driver salaries would be impossible in the near future due to the legal ramifications.
The sport introduced its first budget cap last year, with the $145million permitted spend reduced by $5m for the current campaign.
Only a select few areas of each organisation are excluded from the guidelines, which include driver salaries, the next three highest earners and hospitality costs.
But the topic of a driver salary cap re-emerged at the Monaco Grand Prix given that some drivers earn enough to reach rich lists around the world whilst others have paid for their place on the grid.
Asked where he stood on the matter, Binotto replied: "That's a point we started discussing a month ago now, together with all the teams, F1 and the FIA.
"We understand the importance of trying to cap the overall expenses.
"Obviously, there is not only the top three key personnel in the team, there is not only the drivers but there is the engine and the power unit as well, for which there will be a budget cap in the future.
"So we are discussing it again. There is not a straightforward solution, especially for the drivers’ salary cap.
"But no doubt that we are discussing it and trying to understand what is the solution."
F1 will "go through the process" in driver salary cap talks
Implementing the cap would be difficult given drivers are already signed to contracts, the longest of which carries Max Verstappen through to 2028 with Red Bull.
Explaining the hurdles in place, Binotto, who represents the F1 teams on the World Motor Sport Council, said: "It will not be in the short term.
"The reason for that is we already have contracts in place, and we cannot simply breach them.
"There are legal implications, certainly to understand how to do that, so it's a discussion.
"It's an important one, we understand it and we recognise it will take time, but certainly we will go through the process."
Additional reporting by Ian Parkes
Related
Change your timezone:
Latest News
Newey Red Bull EXIT date revealed as F1 star confirmed at new team - GPFans F1 Recap
- Yesterday 23:57
Verstappen takes F1 swipe at Hamilton and rivals with ruthless remark
- Yesterday 22:57
Marko defends Ricciardo in 'unbelievable' idiot claim
- Yesterday 21:57
Hamilton hints at sensational Newey arrival at Ferrari
- Yesterday 20:57
Suspended Red Bull employee 'grilled' as Horner saga given potential END DATE
- Yesterday 19:57
BLOW for former F1 champion as Mercedes preferences revealed
- Yesterday 18:58
Related news
F1 boss HITS BACK at star driver over schedule complaints
F1 franchise welcomes return of INCREDIBLE feature
F1 legend issues DAMNING verdict on proposed rule change
Red Bull chief admits interest in poaching TWO rival stars
F1 Standings
Drivers
- Oliver Bearman
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Daniel Ricciardo
- Yuki Tsunoda
Races
- Gulf Air Grand Prix of Bahrain 2024
- Saudi Arabian Grand Prix 2024
- Grand Prix of Australia 2024
- MSC Cruises Grand Prix of Japan 2024
- Grand Prix of China 2024
- Miami Grand Prix 2024
- Gran Premio dell'Emilia Romagna 2024
- Grand Prix of Monaco 2024
- Grand Prix du Canada 2024
- Gran Premio de España 2024
- Grand Prix of Austria 2024
- Grand Prix of Great Britain 2024
- Grand Prix of Hungary 2024
- Grand Prix of Belgium 2024
- Heineken Dutch Grand Prix 2024
- Grand Prix of Italy 2024
- Grand Prix of Azerbaijan 2024
- Grand Prix of Singapore 2024
- Grand Prix of the United States 2024
- Gran Premio de la Ciudad de Mexico 2024
- Grande Prêmio de São Paulo 2024
- Heineken Silver Las Vegas Grand Prix 2024
- Qatar Grand Prix 2024
- Grand Prix of Abu Dhabi 2024
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.
With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
Follow us on your favorite social media channel
Corporate & Media
Innovatieweg 20C7007 CD, Doetinchem, Netherlands
+31645516860