News Details

Working group to investigate F1 driver salary cap

Formula 1 will create a working group, which will include drivers, in order to evaluate the possibility of introducing tighter financial control on leading figures in the championship. Formula 1 has long sought to reduce costs and for the first time this season financial regulations will be in force. An annual budget cap of $145m has been implemented, a reduction on the initial $175m proposed in late 2019, as a response to the Covid-19 pandemic. This figure will reduce to $140m next year and then $135m in 2023 in order to assist some operations to adjust to the scale and size of the change. However there are several exemptions, most notably costs relating to marketing, race driver...
Full Story »
Share

You May Also Be Interested In...

Formula 1 presents viewing figures for 2020: Growth in...

Formula 1 has released the figures for the 2020 Formula 1 season. The...
3y ago from GPBlog.com

F1 presents viewing figures for 2020: Enormous growth...

Formula 1 has released the figures for the 2020 Formula 1 season. The...
3y ago from GPBlog.com

McLaren Racing CEO Calls For Driver Salary Cap Amid...

McLaren Racing CEO Zak Brown has called on Formula One to agree a driver...
3y ago from Formula1News.co.uk

Oxford Dictionary Removes ‘Outdated’ Words...

Three words have been removed from the Oxford Advanced Learner’s...
3y ago from Formula1News.co.uk

Elsewhere On The Network

Popular On MGPToday.com

Marc Marquez confirms surprise split from Red Bull...

Six-time MotoGP champion Marc Marquez has confirmed that he and Red Bull...

Popular On IndyCarToday.com

Popular On TotalWRC.com

Popular On GunnersToday.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.