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#85256
From autosport.com:

By Jonathan Noble and Michele Lostia Wednesday, December 17th 2008, 12:24 GMT

Formula One drivers will be the next to suffer the consequences of the worldwide economic downturn by being forced to accept reduced wages, claims Ferrari's team boss.

With the FIA and the teams having worked hard in recent weeks to thrash out a major overhaul of the technical rules to help reduce budgets, there are widespread hopes that the sport can see itself through the difficult financial times.

But Ferrari team principal Stefano Domenicali thinks such cost savings are only the start of a spending clampdown that teams are going to have to go through - and he believes drivers will be the next target.

"I think that in the following months there will be a major revolution, also with the drivers, as far as retainers are concerned," Domenicali said in an interview with Italian magazine Autosprint.

Domenicali believes that the momentum for such a drastic course of action - which could go as far as current terms having to be renegotiated - will come from the bigger teams.

"Let's be clear: at a moment when the teams, whether big or small, must reduce costs in a significant way, one could feel like saying you need an ace to make the difference," he explained.

"However, I feel that in the current climate the big teams - the small ones can't do that now - won't have the ability anymore to think of offering certain amounts of money that some drivers get. So discussions can be held on this issue."

When asked whether terms of contracts that were recently signed, such as Kimi Raikkonen's fresh deal announced in Monza, could be changed, Domenicali said: "Anything can be modified in life.

"The important thing is wanting to do it. We know the terms of the contract. However, I'm convinced that this issue will soon be discussed among all the teams and with every driver."


How effective could this be? We all know McLaren and Ferrari in particular pay sinful sums of money to their star drivers, but what about smaller teams? Many of their drivers aren't on seven-figure sums and they are struggling to compete as things as are.
#85272
Certainly any top driver looking at a move right now is going to have to take a massive wage cut. Which ought to put the nail in the coffin of the Alonso to Fezza stories.

& when their contracts run out they'll have to ba able to prove that they are worth millions more than Mr Up-&-Coming
#85274
Wage caps may be better idea. That way the smaller teams would not have to spend so much to tempt a quality driver their way.
#85281
Im sure the drivers are gonna have to tighten their belts if they get a wage cut its not like they get payed millions....

oh wait....

Really salary caps would be a great idea, if sponsors wanna give the drivers some endorsement money good on them but the teams should be capped to say 1 milllion a year max god knows id drive for half of that
#85282
Im sure the drivers are gonna have to tighten their belts if they get a wage cut its not like they get payed millions....

oh wait....

Really salary caps would be a great idea, if sponsors wanna give the drivers some endorsement money good on them but the teams should be capped to say 1 milllion a year max god knows id drive for half of that


Honestly, I think anything in excess of £100,000 is too much money to pay anybody for anything. But yeah, capping at £1m would certainly help.
Last edited by Denthúl on 17 Dec 08, 21:29, edited 1 time in total.
#85284
aww tiddums, I can see the scene now

"sorry honey, I have had a pay cut, the under butler will have to go. I am only going to get 5 Million next year." F1 Driver

"Oh now I was just starting to learn his name! can we not get rid of some of the 18 Supercars that are in the garage that you never drive?" F1 Drivers Wife

"I suppose we could sell the Enzo and the Veyron." F1 Driver

My heart bleeds
#85295
Yesss! Cap those salaries which will make smaller teams more competitive on the driver market. Drivers can earn double or triple of what they get in salary by signing sponsorship contracts, so there...
I bet Nastycars are thinking about such a move already given the economic situation in the US.

I would even go as far as suggesting that drivers' salaries should be mainly performance based, i.e., a modest base salary plus bonuses per point won with the bonus rate being reverse proportional to a team's point haul of the previous season. This would prevent drivers in vastly better teams to earn way more than their competitors in lesser teams simply because their car is so much better. And it would encourage and reward drivers of a lesser team who fight above their weight class and win more points than 'expected' (see SV/Toro Rosso this past season).
#85299
Yesss! Cap those salaries which will make smaller teams more competitive on the driver market. Drivers can earn double or triple of what they get in salary by signing sponsorship contracts, so there...
I bet Nastycars are thinking about such a move already given the economic situation in the US.

I would even go as far as suggesting that drivers' salaries should be mainly performance based, i.e., a modest base salary plus bonuses per point won with the bonus rate being reverse proportional to a team's point haul of the previous season. This would prevent drivers in vastly better teams to earn way more than their competitors in lesser teams simply because their car is so much better. And it would encourage and reward drivers of a lesser team who fight above their weight class and win more points than 'expected' (see SV/Toro Rosso this past season).


don't think it will change much in the driver market your still going to get the best drivers wanting to drive for the best teams and they'll get money other ways
#85300
Capping Drivers salaries will do nothing in real terms. Some drivers will always be richer than others.
Take Lewis Hamilton. He'll still make double other driver (maybe even triple) on sponsorship alone.
#85315
Capping Drivers salaries will do nothing in real terms. Some drivers will always be richer than others.
Take Lewis Hamilton. He'll still make double other driver (maybe even triple) on sponsorship alone.


yeah sponsorship money doesnt come into the teams pocket though now does it.
#85316
Capping Drivers salaries will do nothing in real terms. Some drivers will always be richer than others.
Take Lewis Hamilton. He'll still make double other driver (maybe even triple) on sponsorship alone.


yeah sponsorship money doesnt come into the teams pocket though now does it.


Very true, but surely the existing teams sponsors will pay drivers extra for promoting products?
#85318
but the main thing is the teams budgets will be lower by cutting what they pay the driver, stand alone sponsorship money for drivers outside of the team are just a bonus for them.
#85320
but the main thing is the teams budgets will be lower by cutting what they pay the driver, stand alone sponsorship money for drivers outside of the team are just a bonus for them.


Lol, I dunno why im arguing with you, when you are correct bud.

Maybe certain sponsors will tempt drivers in future.
Like TATA Ferrari. Raikkonen and Massa will get a new company car - :hehe:
#85350
The drivers wages are obscene. Kimi is one the best drivers in F1 but even he doesn't deserve $51 million a year. First rule of business is when costs are too high you cut the wage bill. Capping wages is the best way and let them rake in sponsorship deals on the side.

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