Drivers salaries could be cut in present financial climate

[John S]

 Ferrari's Domenicali is keen to visit retainer issues, he will probably not be the only boss looking at this. Will this mean departures for some big names who are unwilling to accept the new realities?

F1's high-earning race drivers will not be able to avoid the impact of the financial crisis, according to leading team bosses.

Amid the global economic downturn, and Honda's withdrawal from the sport, the teams and the FIA agreed a radical raft of cost-cutting measures that should slash current annual budgets in half by 2010.

Mercedes' Norbert Haug admitted earlier this week that possible cuts in the drivers' wages will be handled internally in compliance with market forces.

Stefano Domenicali tells the Italian magazine Autosprint: "I feel in the current climate the big teams won't have the ability any more to think of offering certain amounts of money that some drivers get."

"So discussions can be held on this issue," the Ferrari Team Principal said.  
 
The brunt of the global crisis struck late in 2008, after Kimi Raikkonen for example agreed a new contract believed to be in excess of $30m per season.

Domenicali said: "Anything can be modified in life. The important thing is wanting to do it. I'm convinced this issue will soon be discussed among all the teams and with every driver."

Source: GMM
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