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    Formula 1

    Hamilton: Decision on F1 future not linked to proposed driver salary cap

    RaiedNovember 3, 2020
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    Lewis Hamilton has denied any suggestion the current uncertainty over his Formula 1 future is linked to a proposed cap on driver salaries.

    After a meeting of the F1 Commission last week, it emerged plans had been put forward to limit salaries to $30m for the drivers and top-level management from 2023.

    This would mean a $10m cut from the amount Hamilton is currently understood to earn from Mercedes and is rumoured to be seeking in a new deal which would see him stay on beyond 2020.

    But when asked about the possible cap, the soon-to-be seven-time world champion, though hardly sounding positive, insisted it did not figure into his decision.

    “It has nothing to do with it,” Hamilton said. “I didn’t even know that was being discussed. I think from a driver’s point of view it’s a surprise to us.

    Also Read:

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    “We’ve obviously heard of the idea a while ago, I think it was last year in France maybe, but it was the first we have heard of it this week.

    “I think it’s important that the GPDA work closely with F1 when we get into discussions moving forwards.”

    As for Mercedes boss Toto Wolff, who he understood the economic reasoning behind the push for a cap, the Austrian says the drivers deserve to be paid well.

    “The discussion around this topic is a very emotional thing,” he said.

    “F1 teams, in order to be sustainable long term and attractive as sports franchises, need to show profitability, like any other company out there, and we all need to achieve that.

    “On the other side its clear that drivers – and the ones in Formula 1 are the best in the world – should earn high salaries, like all the other top sports stars.

    “Today their income is limited because of what they are getting from the team, the scope of promoting their brand, endorsement deals etc.

    “That’s why it will be very interesting to sit around the table with representatives of the drivers, and the drivers themselves, to see how we align ourselves long term so everybody is benefiting from the growth in Formula 1, like US sports have done, without really harming future earnings for the drivers.”

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