'F1 teams vote for limit on drivers' salary, Hamilton has a lot to sacrifice'

28-10-2020 09:02 | Updated: 28-10-2020 11:09
by GPblog.com
F1 News
'F1 teams vote for limit on drivers' salary, Hamilton has a lot to sacrifice'

Lewis Hamilton will probably have to take a pay cut when he signs his new contract. Formula 1 teams are set to agree on a cap on the drivers' salaries and Hamilton will be one of the drivers affected.

Hamilton's contract expires with Mercedes at the end of 2020, but the Briton has already indicated on several occasions that he is in no hurry for these negotiations. First, the world title must be secured, and only then will talks on a new contract follow. That may well change now.

Hamilton has to hand in money

In fact, according to Sportsmail, the Formula 1 teams decided at Monday's meeting that there would be a cap on drivers' salaries. Just like the budget cap for the teams, there will also be a cap for the drivers. According to the British medium, this cap would amount to USD 30 million (£23 million) and would take effect from 2023.

Hamilton had already expressed doubts about his future in F1 and did not dare to look beyond three years. In those three years, Hamilton will have to take into account that a lot of his salary will have to be surrendered in 2023. 

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