'Completely wrong' - Max Verstappen disagrees with salary cap proposals for Formula One drivers
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Published 10/06/2022 at 10:53 GMT
Max Verstappen recently signed a five-year contract extension with Red Bull worth a reported £40m, but as speculation emerges of a salary cap on Formula One drivers the 24-year-old has slammed the proposals. He was speaking ahead of the Azerbaijan Grand Prix on Sunday.
Max Verstappen
Image credit: Getty Images
Max Verstappen believes a salary cap on F1 drivers would be 'completely wrong' ahead of Baku Grand Prix on Sunday.
Formula 1 introduced a budget cap in 2021 that was lowered further in 2022 to $140m, but driver salaries are not currently included.
A working group was set up last year to discuss implementing salary caps for management staff and drivers, and speculation has resurfaced in recent weeks that more elements may be introduced to the current cap.
But Verstappen, who recently signed a five-year contract extension with Red Bull reportedly worth £40m, believes a cap on salaries would stifle the sport's popularity.
"It's still all a bit vague. I think no one really knows where it's going to go," Verstappen said on Friday ahead of first practice in Azerbaijan..
"But from my side, it's completely wrong because I think at the moment F1 is becoming more and more popular and everyone is making more and more money, including the teams, F1 [owners] - everyone is benefiting.
"So why should the drivers, with their IP rights and everything, be capped, who actually bring the show and put their lives at risk, because we do. So for me, it's completely wrong."
Verstappen added that he believed caps would also hurt the junior categories within F1.
"In all the junior categories if you see how many of those drivers have sponsor or a backer, who eventually will have a certain percentage of their income in potentially F1 or wherever," Verstappen continued.
"I think it's going to limit that a lot because they will never get their return in money if you get a cap. So it will hurt all the junior categories as well and I don't think you want that."
Aston Martin driver and former world champion Sebastian Vettel agreed with Verstappen and was sceptical over motives for the salary cap.
"I think it's interesting if you follow up where it's coming from, this proposal," the Aston Martin driver said.
"Obviously we have a budget cap now, which pushes the model towards earnings for all the teams. I think maybe they should be capped in terms of having certain fixed earnings, and everything beyond that should go to a certain pool to do great things with it and have a positive impact.
"After this suggestion, I can imagine that the response will be that the topic will disappear.
"Isn't it a funny coincidence that it's the first time that teams can actually make money with racing in Formula One and something like the salary cap for drivers pops up, isn't it funny."
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