In a recall to the 2021 season, Abu Dhabi again played the host for the last race of this year’s Formula One Championship. And much like the previous year, Max Verstappen finished in the first position this year too. But the only difference is that margin of victory was far greater this year, as Max has won 15 Grad Prix races in the season. The 2022 season is done and dusted. Now the teams are using this offseason to plan and strategize for the upcoming 2023 Formula One season. Meanwhile, the Mercedes team principal Toto Wolff has again brought up the topic of the drivers’ salary cap in the mix. 

Toto Wolff Points Out Driver’s Salary Cap!

Toto Wolff
Toto Wolff

Wolff has asked the FIA to discuss a prospective driver wage ceiling since sponsorship deals might negate earnings, according to the team owner. Since the last two years, the Formula 1 season before last had a spending limit. However, there was a long list of things that weren’t mentioned, such as the pay of three of the highest-paid team members, drivers, and engines. But shortly, power units will have their cap, which will be $95 million for the 2023–2025 seasons and increase to $130 million in 2026 when the new engine regulations take effect.

Formula 1 hopes that taking steps to reduce expenses can eventually help level the playing field. Wolff believes that it is past due to include the drivers’ wages. With contracts that expire between 2023 and 2028, respectively, Verstappen and Hamilton make almost £ 40 million yearly. The proposal was met with angry responses from the drivers in Baku in June. But Wolff, a three-way owner of the Mercedes team, says he supports the cap.

Toto Wolff
Toto Wolff

During a conversation with The Sun earlier this month, Toto Wolff discussed the salary cap issue. Wolff stated that it is certainly a contentious topic in Formula One. He saw that the situation in Formula One as a whole was really challenging. According to him, the sport is prospering, and F1 is making more money, which benefits the teams.

For a thousand people, it costs $140 million. Wolff believes they haven’t even been able to cover the inflation because of the economy. With that in mind, the suggestion of a $30 or $40 million salary allowance is insufficient. Wolff agrees with the F1 driver’s viewpoints when he claims that the drivers will have an opinion on that.

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