Hamilton’s salary drastically reduced

Lewis Hamilton is still in the middle of negotiating his contract with Mercedes. The six-time world champion wants to enter 2021 with a higher salary, but a plan by the F1 organisation to better regulate drivers’ salaries is going to cost the Brit a lot.

Hamilton currently earns some GBP 35 million as a salary from Mercedes. It is not surprising that Hamilton is the best-earning driver on the grid. The Mercedes driver is heading for a legendary seventh world title.

While Hamilton is still negotiating his salary increase, F1 has decided to do something about the drivers’ salaries and distribute it better. His own team boss, Toto Wolff, is also in favour of the idea, causing Hamilton to be seriously worried about his income.

Under the new regulation, teams will have to make do with GBP 22 million for their own drivers. This amount must be divided between the two drivers. If this plan goes ahead, Hamilton will, of course, be the hardest hit.

That is why the Brit is not going to give up and go to the trade union. With the help of the ‘drivers trade union’, the Brit hopes to be able to appeal against the decision and secure his income, reports DailyMail.com.

Source: gpblog.com; sports.yahoo.com