“Salary Cap is total idiocy,” Max Verstappen’s manager ridicules F1 budget rules
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Max Verstappen's manager, Raymond Vermeulen felt that a salary cap in F1 is not good for the sport.
The Formula 1 budget cap was introduced for the 2021 season, first set at $175 million but was later reduced to around $145 million. It underwent a decrease of 5 million for the 2022 season, currently sitting at $140 million, and will be reduced by a further $5 million for the 2023 season. That is where the budget cap is supposed to stabilize, barring inflationary issues.
The budget cap is intended to reduce costs in Formula 1, but also to increase competitiveness among all teams. It aims to get the field closer together and decrease the gap between the top teams with the rest of the field. The ultimate aim is for better spectacle and more competitive racing.
The reaction has been varied. The general mood at the ‘big’ teams feels that the budget cap is too low for the sport, or should even be dispensed with altogether. This is the view for Mercedes, Red Bull, and Ferrari. Red Bull team principal, Christian Horner, even said that teams may have to miss races to meet the cost cap. They feel the cost cap should be raised to accommodate for the increased freight costs and inflation.
Others felt that the budget cap is perfectly fine. Alpine, Alfa Romeo, and to a certain extent, Haas hold this view. Guenther Steiner does agree to accommodate for the freight costs but still supported the presence of the budget cap, but the Alfa Romeo team principal, Fred Vasseur, holds the view that the teams that are struggling with the budget cap should stop using the wind tunnel as much – and bring upgrades less frequently.
However, some suggest that the regulations should not stop there – and extend to accommodate the salary of the drivers as well.
Also Read: Max Verstappen reveals if he prefers to return to the Formula 1 paddock after his racing career
Raymond Vermeulen: “A salary cap could have repercussions on the entire sport.”
In an interview with Dutch newspaper De Telegraaf, Max Verstappen’s agent, Raymond Vermeulen made clear that he was strongly against the introduction of a ‘salary cap’. When the idea was first mentioned a while back, all drivers had made their disapproval abundantly clear. At the time, Lewis Hamilton had said:
“I do think that the sport, the drivers here, are naturally the stars of the sport. They’re the ones that are seen, they’re the ones that bring their brands, and their reputations help elevate the sport and help it travel globally around the world.”
Now that some level of discussion around the idea has started once again, Verstappen’s agent took no time to express his disapproval.
Vermeulen felt that the idea was too ludicrous to give any credence to. He said:
“It is total idiocy – the drivers increase the value of a team and imposing a limit on those who offer that value would turn the world upside down.”
He felt that the drivers add prestige to the sport and bring fans to it, which means more money for the sport. “Look at the facts: A GP has arrived in the Netherlands thanks to Max. Zandvoort pays an annual amount to the FOM for organizing the race, much of which is divided between the teams.“
“So they benefit from that. It would then be very strange if you were to limit only the driver’s earnings model.” Vermeulen also said that his client Max Verstappen’s employer, Red Bull, does not support the idea of a salary cap either.
“[Red Bull] are also very firm that they will never support it, It’s a bad idea for the sport. A salary cap would affect the entire sport.”
Not everyone agrees with Vermeulen however, and Alfa Romeo’s Fred Vasseur thinks otherwise, believing that the salary cap, both for the drivers and top team personnel should be included in the cost caps.
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Aniket Tripathi
(1002 Articles Published)