News Details
Working group to investigate F1 driver salary cap
Formula 1 will create a working group, which will include drivers, in order to evaluate the possibility of introducing tighter financial control on leading figures in the championship. Formula 1 has long sought to reduce costs and for the first time this season financial regulations will be in force. An annual budget cap of $145m has been implemented, a reduction on the initial $175m proposed in late 2019, as a response to the Covid-19 pandemic. This figure will reduce to $140m next year and then $135m in 2023 in order to assist some operations to adjust to the scale and size of the change. However there are several exemptions, most notably costs relating to marketing, race driver...
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5y ago from MotorsportWeek.com
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