Mattia Binotto has warned that the issue of a salary cap in Formula 1 is “tricky” and that there is no solution currently.
Despite a budget cap being introduced last year, drivers’ salaries are not part of that limit but there has been growing discussion of whether there should be a ceiling as to how much the drivers can earn.
Expectedly, it has proved a polarising issue. Earlier this month, reigning World Champion Max Verstappen blasted the idea as “‘completely wrong” while McLaren’s Lando Norris agreed with the Dutchman and suggested such a cap would have a negative impact on the sport’s junior drivers.
Ferrari boss Binotto did not say whether he agreed with the cap or not but did warn that is was a “tricky” issue and one that currently no one had a solution for.
“It’s one of the points that needs to be discussed and looked at,” Binotto said during the press conference ahead of the Canadian Grand Prix.
“Because we need to promote young generations and in order to promote young generations somehow the way it’s working today is having people that somehow are investing on drivers for a return later on
“So yes, it may have a knock-on effect. How to mitigate that in case we go for a salary cap I have not the solution to this, that’s why I think it’s a tricky one, so while I understand the point, while we understand the importance of it, I don’t think that anyone today has got a solution. If there will be a solution, again, I don’t know. We will take our time.”
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He is not the only team boss raising questions over financial limits being applied to the sport after Red Bull’s Christian Horner continued to argue for a rising of this year’s cap. He is quoted as calling it a “catastrophe for Formula 1” were a team forced to take a hit for something that is beyond their control.
“The problem with the uncertainty with the cap, with the rate of inflation we are seeing, there is only parts and people that are really the biggest cost drivers,” said Horner, as quoted by GPFans.
“It would be a catastrophe for Formula 1 that people would have to take a hit for something that is beyond their control.
“There is a moral issue that needs to be dealt with and I know the FIA are looking at it together with the Liberty guys.”