World News – UA – Lewis Hamilton to speak with F1 bosses on potential driver salary cap


Lewis Hamilton says he will speak to Formula 1 bosses about the prospect of a salary cap that would jeopardize the six-time world champion’s future earnings

At an F1 Commission meeting earlier this week, all 10 team managers, including Mercedes boss from Hamilton, Toto Wolff, agreed to split the salaries of the two drivers within the same team at no more than £ 22million per year from 2023

Hamilton, who is out of contract with Mercedes next month, currently earns around £ 40million Ferrari’s Sebastian Vettel and Red Bull driver Max Verstappen are also expected to earn north of the announced figure

Speaking ahead of Sunday’s Emilia-Romagna Grand Prix at Imola, Hamilton said he first heard rumors about the proposed limit for drivers’ pay packages in the race of the last summer in France

“From the driver’s point of view it’s a surprise,” said Hamilton “It is important that the GPDA (Grand Prix Drivers Association) works closely with Formula 1 and initiates discussions on the way we go forward »

The concept is subject to ratification but is part of the sport’s vision of considerably reducing costs

Next season a budget cap will be introduced with teams not expected to spend more than $ 145million (£ 112million) This will increase to $ 140million (£ 108million) in 2022 and $ 135million (£ 105million) in 2023 Mercedes and Ferrari are currently operating at costs over £ 300million per year

“The discussion about capped driver salaries is very moving,” said Wolff “To be sustainable and attractive, Formula 1 teams need to be profitable like any other business

« But Formula 1 drivers are the best drivers in the world and they should earn high salaries like all other stars in the sport

“It would be interesting to sit down on the table with the reps of the pilots and the pilots themselves and discuss how we can align ourselves so that everyone enjoys long term growth without harm the future income of pilots »

Hamilton will compete in Formula 1’s first race at Imola for 14 years on Sunday, as sport stages a unique event in this Covid-disrupted calendar

Hamilton, who holds a 77-point lead over teammate Valtteri Bottas in the standings as he draws closer to a record-breaking seventh world title, has never raced an F1 car on a track synonymous with the death of his childhood hero Ayrton Senna in 1994

« In a way it’s heartwarming to know that I’m here doing what Ayrton loved to do 26 years ago, but it also reminds me harshly of that day

« I was karting at Rye House in Hertfordshire My father had a red Vauxhall Cavalier and we had a white box trailer with gas heater

« I was helping my father fix the kart, tighten the rear wheel bolts, and I don’t know how he got the news, but someone told him Ayrton was dead

« I remember getting away from my dad because my dad never let me cry in front of him I had to go to a different place

« I tried to channel that sadness into my driving and I think I won this weekend, but the following weeks were very difficult »

Formula 1, Lewis Hamilton, Mercedes AMG Petronas F1 Team

World News – AU – Lewis Hamilton to meet with F1 bosses on potential driver salary cap



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