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F1 News & Discussions => General F1 Discussion => Topic started by: John S on October 28, 2020, 12:01:26 PM

Title: Will new driver cost cap reduce Merc F1 payday for Lewis?
Post by: John S on October 28, 2020, 12:01:26 PM

Cost cap of $30m(£22m) on a driver's salary from 2023 voted in at F1 commission meeting, even Toto supported it.

How will this play out for Lewis in his negotiations for a multi year contract with Merc?

https://www.dailymail.co.uk/sport/formulaone/article-8886443/Salary-cap-dent-new-40million-deal-Mercedes-Lewis-Hamilton.html

Title: Re: Will new driver cost cap reduce Merc F1 payday for Lewis?
Post by: Alianora La Canta on October 28, 2020, 01:24:35 PM

My guess is that by then, Lewis won't be after a F1 seat any more - either his activism work or the Extreme E team will require his energies more.

The other thing is that 2023 contracts already exist for Verstappen and Leclerc. Could this be a method of forcing renegotiations with an outside chance of putting either onto the market (or at least disrupting their respective teams a little)?

Title: Re: Will new driver cost cap reduce Merc F1 payday for Lewis?
Post by: cosworth151 on October 28, 2020, 02:11:52 PM

Can F1 effectively void existing legal contracts? I think existing contracts would have to be "grandfathered" in.

Title: Re: Will new driver cost cap reduce Merc F1 payday for Lewis?
Post by: Jericoke on October 28, 2020, 05:40:36 PM

Quote from: cosworth151 on October 28, 2020, 02:11:52 PM

Can F1 effectively void existing legal contracts? I think existing contracts would have to be "grandfathered" in.

The article does speculate that any contracts signed before this rule comes into effect would remain in effect. Might be Toto's way of getting Hamilton to hurry up and sign lol.

Title: Re: Will new driver cost cap reduce Merc F1 payday for Lewis?
Post by: Alianora La Canta on November 01, 2020, 10:52:56 PM

Quote from: cosworth151 on October 28, 2020, 02:11:52 PM

Can F1 effectively void existing legal contracts? I think existing contracts would have to be "grandfathered" in.

No, but it can take that money out of the team's budget cap until it is in compliance (since driver salaries are exempt from the general cap...)