Soon to be knighted Hamilton speaks out against salary cap

26-11-2020 17:05 | Updated: 26-11-2020 20:22
by GPblog.com
F1 News
Soon to be knighted Hamilton speaks out against salary cap

Over the past year, Formula 1 has made great strides in their mission to make sport fairer and, above all, more accessible. By introducing a budget cap, it is hoped not only that the current teams will be able to survive, but also that new teams will join in the future.

One of the points of discussion concerning the budget ceiling is the drivers' salaries. These would not be covered in the first instance and they will not be for the first two years. From 2023, however, these salaries will also be restricted. Anyone who signs a contract before then will not be affected by this measure.

Lewis Hamilton will probably not be affected, but he does not agree with these Formula 1 plans. Although he acknowledges that F1 is not the first sport to have such a salary cap, Hamilton does point to a crucial difference with those other sports.

Hamilton is starting his last contract?

"I don't think the salary cap will be introduced untill I'm no longer here. The drivers are the stars of the sport, we are helping it grow. In other sports such salary caps have already been introduced, but there the athletes have their own portrait rights. This sport is worth billions, then the drivers should also be rewarded for what they contribute," said the world champion against Formule1.nl at the press conference on the Bahrain circuit.

According to the latest reports, Hamilton is about to sign a contract of around €50 million a year. This is a considerable reward for his achievements, but it does not stop there, as the Brit will soon be knighted as well. Something he calls 'a great honour' in Bahrain.

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