The budget cap is the story that won’t go away.
When teams aren’t being accused — or accusing other — of breaking it, they’re making a virtue about how hard they’re working to stay underneath it.
Ferrari is the latest team to admit that they’ve felt the squeeze of the hard financial ceiling — and team boss Mattia Binotto says it’s why the team has fallen behind Red Bull Racing.
Continue reading on FOX SPORTSF1 journalist joins Sportsday with the latest around the Red Bull allegations of cheating!
Mercedes team boss Toto Wolff says Formula 1 should look to American sport for guidance on capping driver salaries as debate about expanding the cost cap heats up.
Drivers are opposed to moves to cap their earnings as part of a broader push to keep team spending in check. A driver salary cap would be separate from the general cost cap, which currently excludes each team’s three biggest earners.
On Friday in Azerbaijan several drivers spoke out against the idea, claiming it would be unfair to limit their earnings when the sport is bringing in more money than ever before on the back of a popularity boom. Sebastian Vettel described it as a strategy to boost team bottom lines.
Continue reading on RACERWorld champion Max Verstappen has hit out against the idea of a cap on Formula 1 driver salaries, arguing it would limit their ability to capitalize on the sport’s growing popularity and booming income.
F1 introduced a general cost cap last season for the first time in its history, but it excludes the three highest paid members of staff — typically the drivers and team principal.
Expanding expenditure controls to the drivers has long been mooted, with $30 million to cover a roster of two drivers informally proposed in 2020. The sport has yet to pursue it vigorously, with the question of how to deal with drivers already signed up on hefty salaries proving a tricky one to tackle, but the dramatic rise in inflation and ensuing spending squeeze has resharpened focus on its introduction in recent weeks.
Continue reading on RACER