News Details
Wolff: Cost cap compromise needed to allow staff salary rises
Mercedes team principal Toto Wolff says there needs to be an agreement on changing Formula 1's budget cap this year in the face of spiralling inflation, higher energy costs and increased freight charges. Several teams have already warned that they don't have sufficient budgets to race at all 22 races this year, while Wolff is concerned that teams are having to focus their cost cutting on staff salaries. The $140 million cost cap was agreed years before inflation started to rise sharply around the world in the wake of COVID and the Russian invasion of Ukraine, and Wolff pointed out that salaries are no longer keeping up. Read also: Mercedes in 'no man's land' – gap to leaders...
Full Story »
Full Story »
You May Also Be Interested In...
Verstappen's manager warns the FIA that a driver...
With inflation hitting every corner of the planet, discussions have begun...
1y ago from Formula1News.co.uk
Verstappen's manager slams salary cap idea
May 29 Max Verstappen has slammed as 'idiocy' plans to enforce a driver...
1y ago from OneStopStrategy.com
Horner: All major teams will certainly breach budget...
Red Bull boss Christian Horner warned that some Formula 1 team might miss...
1y ago from GrandPrix247.com
‘We will go over': Binotto warns Ferrari and...
Ferrari team principal Mattia Binotto believes that it will be impossible...
1y ago from Formula1News.co.uk
Elsewhere On The Network
Popular On MGPToday.com
Marquez ¡still missing something’ to fight for 2024...
No description available...
8h ago from Motorsport.com
Marquez ‘completely exhausted' when he caught...
Marc Marquez was left feeling 'completely exhausted' by the time he caught...
7h ago from MotorsportWeek.c...
Marquez ‘got the better of me' at Le Mans, says...
Reigning MotoGP World Champion Francesco Bagnaia admitted he was missing a...
11h ago from MotorsportWeek.c...
Martin has nothing left to prove to Ducati after Le...
Jorge Martin boldly claimed 'I don't think I have anything to demonstrate'...
9h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Juncos reveals special ‘Phoenix’ and ‘Titan’...
Juncos Hollinger Racing has revealed special ‘Phoenix’ and ‘Titan’...
3h ago from MotorsportWeek.c...
Juncos Hollinger Racing reveals special liveries for...
No description available...
6h ago from Motorsport.com
Ilott gets Indy 500 start with Arrow McLaren IndyCar...
No description available...
8h ago from Motorsport.com
Newgarden up for $440k jackpot from BorgWarner for...
No description available...
10h ago from Motorsport.com
Popular On TotalWRC.com
Tanak not far from “being in the fight” after...
No description available...
7h ago from Motorsport.com
Neuville stunned by almost “impossible” result in...
No description available...
1d ago from Motorsport.com
Ogier: Surpassing Markku Alen’s WRC Portugal record...
No description available...
1d ago from Motorsport.com
Sebastian Ogier sets another new record with his 6th...
Sebastian Ogier and Vincent Landais reeled off the remaining four stages...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Arsenal Transfer News Roundup: Gunners eyeing Sporting...
No description available...
2h ago from SportsKeeda.com
Havertz: I'm going to be biggest fan of Tottenham ever!
Kai Havertz says he'll be the biggest fan of Tottenham ever as their...
1h ago from SkySports.com
“He needs a bit of help” - Peter Schmeichel makes...
No description available...
2h ago from SportsKeeda.com
Lose to Man City to stop Arsenal? Vote now Spurs...
Kai Havertz and William Saliba have said the Arsenal players will be...
1h ago from SkySports.com
Comments
Hottest News
Red Bull chief admits contract 'shame' as Hamilton upgrade...
Red Bull managing director, Oliver Mintzlaff, has... Read More »
32m ago from GPFans.com
Ferrari raids Mercedes to secure two new major signings
After signing Lewis Hamilton earlier this year,... Read More »
9h ago from RacingNews365.com
Norris fires cheeky comment at boss' blunder
Lando Norris has been caught making a cheeky... Read More »
2h ago from GPFans.com