Verstappen, who signed a long-term contract with Red Bull until 2028 before the season started, with an estimated annual salary of 50 million euros, is now also involved in the debate over a potential salary cap for Formula 1 drivers.
There is currently talk of a potential cap of $30 million (€28 million) for both drivers on the team, which Verstappen alone will largely exceed at Red Bull. It is also unclear how this will affect those who already have long-term contracts such as Verstappen.
The Dutchman explained: “In my opinion, this is completely wrong because I think that Formula 1 is becoming more and more popular at the moment and that everyone is making more and more money, including the teams and Formula 1 itself. Everyone benefits from it.”
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“It’s still a bit of a mystery and no one really knows where the ride is going. So why should drivers be crowned with their intellectual property rights and everything else when they run the show and put their lives on the line? We do it in the end, which is what is so wrong For me “.
Verstappen: salary cap hurts junior series
The Dutchman is also concerned about young drivers, whose salary cap could mean less investment in the early years of their careers. Entrepreneurs or managers may be reluctant to invest in young talent knowing that the potential long-term returns will be lower.
“When you see how many of these drivers in all the junior classes have a sponsor or a financier who puts a certain percentage of their income into F1 or something else, I think it’s going to limit the options a lot because they’re never going to get a return,” the Red Bull driver said.
So investors can be hesitant because five percent of the management fee on a driver’s salary of $15 million, for example, is less logical than five percent of your $50 million. “If you put in an upper limit, it also hurts all the junior classes. And I don’t think you want that,” Verstappen said.
Norris agrees with Verstappen
Lando Norris, who also has a long-term contract with McLaren until 2025, agrees with the Dutchman that salary caps could affect investments in young drivers: “I think what he said is correct,” Norris said.
“Especially in terms of investing in young drivers. It’s hard enough to get into Formula 1 at all. So once you have the investor support as a driver, they obviously want their money back at some point and you have to do that.”
“If you put a salary cap on it, it becomes more difficult because people are less interested in investing in young drivers who have a chance even to get into Formula 1. I think that’s one of the most important points,” Norris says.
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