The Formula International Association has proposed new measures to the ten teams’ operations in F1. It follows after meetings were held between all major parties on the Formula One paddock. Multiple topics regarding the 2021 F1 Season were discussed, with teams having concerns regarding scheduling & minimal room for upgrades. Standard to the FIAs bullish tactics with Formula One, headway towards resolving problems in the F1 paddock weren’t introduced.
The FIA instead demanded that all teams make an agreement to introduce salary caps, meaning drivers couldn’t receive more than $30 Million per year. That valuation won’t be possible for any paddock driver, with that budget listed for both drivers. It means most wouldn’t get paid more than $15 Million for their services, which is a stark difference compared to the $45 Million that Lewis Hamilton is paid.
It’s provisional legislation that has the FIA making demands onto the F1 Paddock, which often results in Grand Prix’s being less exciting. Drivers would become more likely to join other motorsports willing to spend more significant amounts. It means that by definition, F1 wouldn’t be Formula One any longer. F1 is the motorsport that requires our populations best drivers, which often means paying substantial funds for acquisition. Limiting a $15 Million salary onto each driver would effectively destroy Formula One in the long-term.
FIA Intervention
Multiple teams evoked their anger towards this suggested legislation, knowing the fallout of what this driver cap could initiate. It’s expected that most teams won’t approve this legislation. However, the Formula International Association will likely overrule these outfits similarly to earlier this season when Upgrade Caps were introduced. Teams aren’t permitted to spend an influx of $145 Million per season on their vehicles starting in 2022. Essentially, the cars are going to be worse & drivers with fewer skillsets will pilot those cars. Expect an unfavourable era of Formula One starting in 2022/2023.
It should be mentioned that the Formula International Association has promised that upcoming legislation & changes to F1 will make the sport more exciting. However, whenever the FIA has gone against their primary purpose of making the motorsport safer, it’s always resulted in Grand Prix’s losing excitement. This happened last decade & Formula One still hasn’t recovered from the Hybrid Era.