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From 2023, the salaries of pilots could be limited

ByRoborto Sykes

Oct 28, 2020

Formula 1 has decided to work extra hard on cost containment. While, from next season, the teams will not be able to spend more than 132 million euros for everything related to performance, with this ceiling which will be reduced year by year to reach 115 million euros at from the 2023 season. A deadline that could see another upheaval take place concerning the pilots. Indeed, the budget limit as it is written in the F1 regulations does not apply to expenses related to marketing, to the salaries of the three best paid employees but also to the salaries of the drivers. It is this last element which could change in three years and have consequences on future negotiations between drivers and teams.

Towards drastic wage cuts?

If the contracts already in force for the 2023 season, in particular those of Max Verstappen at Red Bull Racing and Charles Leclerc at Ferrari, would not be affected, the British magazine Autosport revealed that a limit of 25 million euros per year will be set. A ceiling which will not apply individually but which will concern all the drivers under contract with a team. For example, if a driver receives 15 million euros per season, the salary of the other driver cannot exceed 10 million euros. The only solution to exceed this limit would then be to cut back on the overall budget of the team, set at 115 million euros from 2023. A mechanism which will however be one-sided, a team will not be able to cut back on the salaries of its members. pilots in order to have a bonus in terms of their budget for the season. An operation which, according to Autosport, was recorded by the team managers gathered this Monday within the framework of the F1 Commission and which is only waiting for the approval of the International Automobile Federation.