F1 introduced a budget cap at the start of the 2021 season, initially limiting teams to spending $ 145 million a year. That figure dropped to $ 140 million in 2022 and will drop by another $ 5 million next year, although talks are underway on the impact of inflation and rising transportation costs.
There are a number of exclusions from this base figure, including drivers ‘salaries, but there is a new push for the possible introduction of a drivers’ salary cap in the coming years.
Two-time world champion Alonso told Monaco late last month that he did not think F1 needed to follow the path of a salary cap, and noted the work drivers do to promote the championship.
“I don’t think it’s necessary,” Alonso said.
“The drivers have always been out of this topic, and I think the drivers, we are using ourselves more and more to promote Formula 1. We are doing more and more events and we are more in touch with the fans.
“They’re asking us for more and more. So we should be out of this limit. It’s very complicated.”
Carlos Sainz, Ferrari, talks to Max Verstappen, Red Bull Racing, on the bus at the drivers’ parade
Photo by: Carl Bingham / Motorsport Images
Several drivers have questioned the viability of a salary cap, including Lewis Hamilton, who previously said he thought it could hinder younger stars amid restrictions on image rights.
Alfa Romeo F1 chief Frederic Vasseur told Monaco that he thought a salary cap for key drivers and staff would be “the next issue on the table” as the series drives for greater financial sustainability.
The proposed plan for the salary cap for the last two years has set a figure of $ 30 million to cover the two pilots of the team. If this figure is exceeded, the extra money spent on pilots’ salaries could exceed the team’s budget limit.
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Currently, the cost cap is back in the spotlight as several teams aim to raise the $ 140 million cap for this season due to financial pressures caused by inflation and rising transportation costs. , derived from the current global climate after the invasion of Russia. of Ukraine.
Ferrari said in Monaco that it currently had no chance of staying below the $ 140 million limit for the season, citing its call for an increase. But some teams have taken a dim view on the matter, suggesting that larger teams simply develop their cars less to stay under cover.