Formula 1 has long been a sport that involves a lot of money, but in recent years efforts have been made to limit the importance of the financial aspect with new rules such as the budget cap.
The main intention is to ensure that the gap between the large teams and the small teams does not become too great due to the fact that the latter simply have less money to spend.
But it is not all gold that glitters because the budget cap that has been introduced in Formula 1 since two years does not apply to all aspects. For example, driver’s wages are not included, although work is being done behind the scenes to rectify that shortcoming.
At the moment, a team can still spend as much as it wants on a driver’s wages and that probably contributed to Max Verstappen’s new multi-million contract that was officially announced yesterday.
Max Verstappen is therefore choosing eggs for his money with his new contract by signing an agreement that binds him to Red Bull until 2028. If the rules were to change in the near future, that will not be the case for existing contracts and the 2021 world champion has so his sheep are on dry land.
You may not expect it, but Red Bull is also making a smart move by offering Max Verstappen a monster contract in which he will earn between forty and fifty million euros every year until 2028. After all, the world champion is only twenty-four years old and has been considered the best driver of his generation for years.
If the rules change in the future and the drivers’ salaries fall under a budget cap, no team will have the financial means to untie him from Red Bull for the next six years and so they are sure of the Austrian formation. his services until 2028. So everyone is happy…
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