A proposed cap on Formula One driver salaries is under discussion but still some way away, although teams are supportive of the idea, bosses said on Friday.
The idea has been bubbling away for some time and was put forward last Monday in a virtual meeting of the Formula One commission.It proposes a US$30 million cap for teams to pay drivers, starting from 2023. They can spend more but the excess will come out of what will be a US$135 million annual budget cap for all teams by 2023.
Mercedes's six times world champion Lewis Hamilton is paid an estimated 40 million pounds but about to negotiate a new contract from 2021. "On the other side, it's clear that drivers, the ones that are in Formula One, are the best in the world and should earn high salaries like all the other top stars in sport."
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