Formula 1, the FIA, and the Grand Prix Drivers’ Association are soon to propose a project to introduce driver salary caps in the F1 World Championship.
The idea is to cut down by 25 million euros the salary for both drivers and the team’s reserves.
Formula 1 is already limiting the budget the teams have for car development, with it being 132 million euros this season, going down to 115 million by 2022 and 110 million by 2023, with engine development being frozen from next season until 2025.
The next step would be to limit the team’s spending on driver salaries; according to La Gazzetta Dello Sport, the FIA and Liberty Media will propose a 25 million euros budget for all of the team’s driver salaries, which includes two main drivers and two reserves.
This would mean a huge cut for drivers like Lewis Hamilton, who is said he renewed with Mercedes for 45,6 million euros for only this season, which is already way off the proposed limit if we also have in mind Bottas’s salary, which comes close to the eight million euros.