Lewis Hamilton and Valtteri Bottas Formula 1 teams have agreed in principle to introduce a cap on driver’s salaries from 2023. A meeting between team bosses on Monday saw a range of topics discussed, with one of the topics the introduction of a USD 30 million (AUD 42.5 million) cap for drivers. That concept was agreed in principle by all 10 teams and is now set to be ratified by the FIA World Motorsport Council in December. Contracts agreed prior to the cap's introduction date but extend beyond it would be honoured. Should a team not spend the full USD 30 million on drivers, that money cannot be used as part of the USD 145 million racing cost cap. F1 will introduce a cost cap into the...
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