Hamilton and Vettel could forego salary

Hamilton and Vettel could forego salary

Do Sebastian Vettel and Lewis Hamilton waive part of their salary?

The corona crisis poses challenges for many companies in the economy. This also includes the Formula 1 teams and the large automotive groups in the background. Because there are currently no races, the teams break almost the entire income. So everyone has to do their part to get through this difficult phase.

This also includes the drivers. As the ‘Daily Mail’ reports, Mercedes and Ferrari are currently in talks with their top drivers Lewis Hamilton and Sebastian Vettel, respectively, about foregoing part of their salary. The world champion should be willing to do so, but the talks are still at an early stage.

At Scuderia, teammate Charles Leclerc is said to be affected in addition to Vettel. Here too, however, the talks are still ongoing. Meanwhile, McLaren is the first Formula 1 team to have the pay cut, a cut in their salary, already in place. In addition to the pilots Carlos Sainz and Lando Norris, the management around Boss Zak Brown is also affected.

According to the team, Sainz and Norris are said to have voluntarily proposed a cut in their wages to help do their part after some employees were forced to work short-time as a result of the crisis. The measure was initially limited to three months. However, it is not known exactly how much money the data subjects waive.

A statement from the McLaren Group, which includes the Formula 1 team, said: “The measures are designed to protect jobs for the short term to ensure that our employees can return full time as soon as the economy recovers . ” Short-time workers receive government grants in the UK.

80 percent of the income is to be covered, with a ceiling of £ 2,500 per month. It can be assumed that there are also discussions among the other Formula 1 teams about at least temporarily reducing the salaries of the top earners. Such steps have already been taken in other sports.

In football, for example, in small and large clubs, players are foregoing part of their salary. It is to be expected that this trend, which McLaren has now initiated, will also prevail in Formula 1. Because the 2020 season will start at the earliest in mid-June – probably later.

Until then, the important earnings remain with the teams.


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