Uncategorized

Ferrari: No easy solution to F1 salary cap debate – Motorsport.com

F1 launched its first team budget cap in 2021 after a big push by the FIA and the commercial rights holder to make the series more financially sustainable.
Teams were limited to spending $145 million under the budget cap last year before the figure was cut to $140m for the current season. It will fall by a further $5m next year, although there is an ongoing debate between teams about the impact of inflation and the current global climate.
This figure has a number of exclusions including driver salaries, but discussions have been ongoing for some time about the possible introduction of a separate cap that would cover the salaries of drivers and other key personnel.
Ferrari F1 chief Binotto said it was a matter that had recently been discussed by the teams, but he warned there was “not a straightforward solution, especially for the drivers’ salary cap”.
“We are discussing it and trying to understand what can be a solution,” Binotto 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, 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.”
Charles Leclerc, Ferrari, Mattia Binotto, Team Principal, Ferrari
Photo by: Ferrari
2023 was initially identified as a year where the salary cap could come into place, but a number of drivers have contracts in place that go far beyond this date.
Charles Leclerc is tied in at Ferrari until the end of 2024, while Red Bull’s Max Verstappen has a bumper deal that runs all the way to the end of the 2028, reportedly worth up to €50m per year. 
Red Bull team boss Christian Horner thought the motivation behind a salary cap was “well merited” but the “application of it is tricky”, and warned against F1 becoming “an accounting world championship”.
“There’s an awful lot of things that need tidying up within the existing cap that we have, that’s being rolled out to being an engine cap as well,” Horner said.
“There’s all kinds of complications with that, again, with companies’ reporting structures, etc. So, there are many, many complexities, but I think we need to go beyond that.”
The push to consider a driver salary cap – previously discussed at $30m per year to cover both drivers, with any bigger payouts coming out of the team budget cap – has been supported by a number of teams, including Alfa Romeo and Alpine.
“I think it’s the right approach to try to coordinate it with the budget [cap] and to have perhaps an allowance for this,” said Alfa Romeo F1 boss Frederic Vasseur.
“You could overshoot the limit and you will have to take part of your budget cap, I don’t know. But we have to find something like this because it’s important for the sport.”
Alpine team principal Otmar Szafnauer added: “I’m in favour of adding that underneath a global cap so that the teams can trade off driver skill with updates, because ultimately both things bring performance on track.
“And I think for us to have the latitude to be able to trade that off is probably the right thing.”
Salary caps operate in a number of other professional sports, including rugby and American football, which McLaren chief Andreas Seidl felt showed there was a “mechanism that could do the job” for F1.
“At the same time, I think it’s important now to simply keep continuing the discussions behind closed doors,” Seidl added.
“There’s no point to now in public discuss how could that all work. So let’s stay tuned.”
The overlooked flaws of the 2022 F1 cars that Baku will expose
Williams: Lack of confidence in the car behind Latifi F1 struggles
No matter how noble the cause, the Silverstone protest was reckless and risked lives
Vettel sympathises with “desperate” F1 protesters but highlights risk
Connecting two of Ferrari’s favourite F1 sons: Villeneuve and Leclerc
10 things we learned from the 2022 F1 British Grand Prix
No matter how noble the cause, the Silverstone protest was reckless and risked lives
When Sainz really took his first win from pole at Silverstone in 2010
Why Sainz’s first win could be costly for Ferrari long term
The five factors that won Sainz a British GP he’d twice lost
Formula 1 has a newest race winner, in a grand prix the victor appeared to have lost twice, only to charge back to headline a sensational and dramatic British Grand Prix. From a massive start crash to a late sprint finish, here’s how five factors saw Carlos Sainz take his maiden grand prix win
Why there was no case to answer in Aston’s latest F1 copycat saga
The appearance of a revised Aston Martin in Spain caused controversy but PAT SYMONDS explains why the FIA investigation found the Silverstone team had no case to answer
Why it’s Red Bull that really leads a three-way fight so far at Silverstone
After a slow start to Friday at Silverstone, all the Formula 1 teams had to effectively cram in a day’s worth of practice into one hour. But there was still plenty to learn and while Ferrari topped the times, a three-way battle is brewing ahead of the British Grand Prix
Verstappen exclusive: Why F1’s champion isn’t fazed by Silverstone return
Max Verstappen is the world’s number one racing driver… and he’s determined to keep it that way. Speaking exclusively to GP Racing’s OLEG KARPOV, the Red Bull driver explains why he’s relishing the 2022 championship battle with Charles Leclerc – and why he’s not worried about returning to Silverstone, the scene of the biggest accident of his career last year
Why Red Bull’s RB17 hypercar can help its F1 team
On Tuesday, Red Bull laid out its plans to develop and build a new hypercar – the RB17 – penned by Adrian Newey. As the project itself sates Newey as a creative outlet, it also offers Red Bull’s Formula 1 team a number of new and exciting avenues to pursue.
What to expect from Mercedes as F1 returns to Silverstone
OPINION: The British Grand Prix is a home event for Lewis Hamilton and George Russell, with their Mercedes team based just a few miles away too. But there’s another reason why the Silver Arrows squad is eager to arrive at Silverstone this weekend, which may help it fix its remaining problems with its 2022 Formula 1 challenger .
Inside AlphaTauri’s Faenza F1 factory
AlphaTauri’s mission in F1 is to sell clothes and train young drivers rather than win the championship – but you still need a cutting-edge factory to do that. Team boss Franz Tost takes GP Racing’s Oleg Karpov on a guided tour of a facility that’s continuing to grow.
Connecting two of Ferrari’s favourite F1 sons: Villeneuve and Leclerc
Gilles Villeneuve’s exploits behind the wheel of a Ferrari made him a legend to the tifosi, even 40 years after his death. The team’s current Formula 1 star Charles Leclerc enjoys a similar status, and recently got behind the wheel of a very special car from the French-Canadian’s career.

source

Leave a Comment

Your email address will not be published.

You may also like