Top drivers forego 'chunk' of salaries to help their F1 teams

Sebastian Vettel (left) and Lewis Hamilton. Image: TeamTalk
Sebastian Vettel (left) and Lewis Hamilton. Image: TeamTalk

Many of the Formula 1 teams are facing the pinch at present as eight of this year's 22 grands prix have either been postponed or cancelled. And more could follow in the coming weeks.

Red Bull advisor Helmut Marko reckons for every five races missed, the teams lose out on "100 million".

In order to get through the crisis, McLaren announced earlier this week that it was taking advantage of the UK government's initiative to cover 80% of the wages of a furloughed worker.

The Woking team placed an unnamed number of staff on furlough while it was also revealed that both Carlos Sainz and Lando Norris would take pay cuts.

The team mates earn £2-million (R46 202 793, est.) and £600 000-a-year (R13 860 837, est.), respectively.

A team statement read: "The McLaren Group is temporarily furloughing a number of employees as part of wider cost-cutting measures due to the impact of the Covid-19 pandemic on its business. These measures are focused on protecting jobs in the short-term to ensure our employees return to full-time work as the economy recovers."

Foregoing salaries

At the time of McLaren's announcement, none of the other teams had confirmed plans to do the same but it is now being reported that Lewis Hamilton and Sebastian Vettel, along with Charles Leclerc, have offered to forego part of their salaries.

They earn £40-million (R924 055 865, est.) and £35m-a-year (R808 548 882, est.), respectively, while Leclerc is on £8m-million (R184 811 173, est.).

READ: Furlough puts McLaren F1 team in line for British payment schemes during Covid-19

The Daily Mail claims that it is 'understood that six-time World Champion Hamilton is willing to forego a chunk of his £40m wage, though these discussions are at a preliminary stage.

'Ferrari's Sebastian Vettel, who earns £35m a year, and Charles Leclerc, on £8m, are also in talks about reducing their earnings.'

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