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 »
6mo ago from F1i.com 0
Share

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...
6mo 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...
6mo 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...
6mo ago from GrandPrix247.com

‘We will go over': Binotto warns Ferrari and...

Ferrari team principal Mattia Binotto believes that it will be impossible...
6mo ago from Formula1News.co.uk

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

IndyCar planning updated marketing strategy for next...

The NTT IndyCar Series is planning to significantly increase its marketing...

New television series showcasing Indy 500 announced

A new documentary series named “100 Days to Indy” is being planned for...
16m ago from MotorsportWeek.c...

Andretti breaks ground on massive new headquarters

Andretti Autosport has broken ground on its massive new, $290 million...
1d ago from SpeedCafe.com

Popular On TotalWRC.com

M-Sport signs Tänak for 2023 season

Ott Tanak has announced that he will be driving for the M-Sport Ford WRC...
21h ago from MotorsportWeek.c...

Popular On GunnersToday.com

Happy returns: will early World Cup exits benefit...

coming players back from Qatar now may provide a crucial advantage when...
1h ago from TheGuardian.com

Chelsea, Liverpool, Arsenal want Yunus Musah?

Premier League trio Liverpool, Chelsea and Arsenal all reportedly want to...
26m ago from SportsMole.co.uk

'It's inevitable' – Arsenal warned they face...

Arsenal forward Gabriel Martinelli has earned huge praise from former...
4h ago from CaughtOffside.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.