Are the big paydays history? As the world of F1 awaits news of Lewis Hamilton’s contract signing speculation mounts over his alleged pay demands which have inevitably led to debates over driver’s salaries.
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When F1 finance monitor Business Book GP and Parimatch Sports published their 2020 report of driver salaries it mirrored the championship with front runners, a midfield, and those trailing at the back.
In pole position are the big earners with salaries of between €16m to €47m, the midfield earners are on €4m to €9m with the rest of the pack on €500,000 to €2m. Bonuses and sponsorship money are not considered.
So, with these figures it seems strange the teams have agreed in principle to a salary cap of €30m from 2023 for both drivers subject to approval by the World Motor Sport Council.
It is all a bit … Read the rest