The Other Effects of Cost-Cutting in F1…

Drivers’ Wages

"Don’t worry Kimi, I give you Ferrari – super fast and… ice, iceman car. That’s a good boy"

Formula One drivers will be the next to suffer the consequences of
the worldwide economic downturn by being forced to accept reduced
wages, claims Ferrari’s team boss.

With the FIA and the teams having worked hard in recent weeks to
thrash out a major overhaul of the technical rules to help reduce
budgets, there are widespread hopes that the sport can see itself
through the difficult financial times.

But Ferrari team principal Stefano Domenicali thinks such cost
savings are only the start of a spending clampdown that teams are going
to have to go through – and he believes drivers will be the next target.

"I think that in the following months there will be a major
revolution, also with the drivers, as far as retainers are concerned,"
Domenicali said in an interview with Italian magazine Autosprint.

Domenicali believes that the momentum for such a drastic course of
action – which could go as far as current terms having to be
renegotiated – will come from the bigger teams.

"Let’s be clear: at a moment when the teams, whether big or small,
must reduce costs in a significant way, one could feel like saying you
need an ace to make the difference," he explained.

"However, I feel that in the current climate the big teams – the
small ones can’t do that now – won’t have the ability anymore to think
of offering certain amounts of money that some drivers get. So
discussions can be held on this issue."

When asked whether terms of contracts that were recently signed,
such as Kimi Raikkonen’s fresh deal announced in Monza, could be
changed, Domenicali said: "Anything can be modified in life.

"The important thing is wanting to do it. We know the terms of the
contract. However, I’m convinced that this issue will soon be discussed
among all the teams and with every driver." can’t complain though! They did complain about the ridiculous increased license fee of the super license for each year, in June. I wonder if that will be scrapped?  I don’t think Kimi would be irritated about the wages being affected, as the picture suggests (hehe!) Ferrari might give him another Enzo, with ‘Iceman’ painted on the sides instead. Of course, the greatest prize would be winning and feeling on top of the world, regardless of how much you’re being paid to drive. Kimi currently ranks 7th in this list of the largest sporting contracts, his Ferrari deal from 2007-2009 is worth $153 million. Funny – you wouldn’t have guessed it; that’s how humble our Kimi is. Average per year shows that as being $51 million, as everyone knows. That’s actually the biggest salary of the whole lot on that list – it shows how much Ferrari were willing to get Kimi and his unique talent. I think he’ll be alright with accepting a little less than usual!

Di Montezemolo See’s New F1 Power

Ferrari president Luca di Montezemolo believes the era of Max Mosley
and Bernie Ecclestone’s domination of Formula One is over – and thinks
the current costs crisis may accelerate change at the senior levels of
the sport.

With di Montezemolo having played a key role in the recent
discussions between the FIA and the Formula One Teams’ Association
(FOTA), major progress has been made in framing new regulations that
will bring much needed budget cuts for teams.

However, di Montezemolo thinks one of the consequences of the new
harmony between teams is a greater comprehension of where they have
lost out in the past in their battles with Ecclestone and Mosley.

And that is why he believes that the ‘divide and conquer’ tactics
that Mosley and Ecclestone have sometimes used in the past will no
longer work from now on.

"Time goes by, and in a few years’ time I will retire too," di Montezemolo was quoted as saying by Gazzetta dello Sport when asked about the future direction of F1.

"The crisis perhaps accelerates this renovation process, which had
to be faced anyway. I’ve known Ecclestone since 1973, and I think he’s
done a great job. But a few years ago we argued: I called him greedy
because of the revenues which were distributed 70 percent for him and
30 percent for all the teams. Now we are 50-50. We’ll have to do
something more, we’ll see.

"What’s certain is that the time to divide and conquer to rule in F1 is over."

With the move to longer life engines, and promises to supply cheap
deals to independent teams, the threat of a standard power unit being
imposed on teams has been lifted for now.

And di Montezemolo has reiterated his belief that perhaps all the
manufacturers would have walked away from the sport if they had been
forced to run a standard engine.

"It was the right occasion to leave F1: if the standard engine for
all teams was approved, at least four, maybe five car manufacturers
would have left," he said. "And I mean four or five on top of Ferrari,
that is all of them.

"Since the first meeting of every team here at Maranello in July,
we’ve made great steps forward: in 2009 we’ll already save 50 percent
on the engines, and from 2012 we’ll save 50 percent on the entire
budget." would be one major positive of the whole dilemma!

3 thoughts on “The Other Effects of Cost-Cutting in F1…

  1. Maybe it’s inevitable that cost cutting will affect the drivers, but I don’t see why Domenicali had to talk to the press and implying certain teams or drivers… It’s a sensitive issue and should be neogtiated privately, sometimes I really puzzled by how Ferrari handled all the press releases – very often they said something without careful consideration (for example the team order…)


  2. He was probably asked about it, in the magazine interview. Being the nice chap he is, you’re probably right too lol


  3. kimi y ferrari son lo mejor asi q en el 2009 van a volar….


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