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F1 teams agree to cap drivers' salaries from 2023!

Formula 1 teams have reportedly agreed to introduce a $30m cap on drivers' salaries from 2023, potentially imposing such a limitation for the first time in Grand Prix racing's history. According to a report from Daily Mail F1 correspondent Jonathan McEvoy, teams were unanimous on the salary cap idea which was tabled during a virtual meeting of the F1 Commission on Monday. F1 will implement a $145m budget cap for teams from next season that will progressively drop to $135m for 2023. But the cost cap does not include the expense earmarked for an outfit's pair of drivers. The novel salary restriction would therefore work together with a team's budget cap. Only a handful of drivers enjoy the...
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