$285 Million Worth Lewis Hamilton in Danger of Losing Over $27 Million as Toto Wolff Issues Concerning Statement

With the global boom of Formula 1, the sport is generating an incredible amount of traction from fans. This traction also translates to revenue generated by the sport. However, the more money the sport is earning, the less money the teams are getting to spend in a season. We are talking about the budget cap. This unpopular aspect of Formula 1 faced more backlash when a driver’s salary cap was suggested back in 2022. If applied, the highest earners like Lewis Hamilton might end up earning $27 million less in a season. What’s worse for the Mercedes man is that Toto Wolff is supporting this bill.

Hamilton earned roughly around $57 million from the sport in 2022, which was already a drop of $13 million from 2021. This drop was partly due to his win-less season. However, the suggestion of capping the drivers’ salaries at $30 million will see him take another significant hit of about $27 million. The $285 million worth Hamilton, among other drivers, has already voiced their opinion on the suggestion. However, the Mercedes boss shockingly supported this bill in comments covered by The Scottish Sun.

The Mercedes boss said, “The sport is booming and F1 is earning more money and that trickles down to the teams. But we have a cost cap. We have $140million for 1,000 people. With inflation, we haven’t been able to even pay the inflation. The talk about $30 or $40m salary allowance is inadequate when you take that perspective.”

“Therefore it is certainly clear that this is going to be one of the main areas because you can’t simply have a salary bill in some of the top teams that is 30, 40, 50m when the rest of the team needs to be divided in 140m,” he added.

Read More: Charles Leclerc Slams F1’s Salary Cap Plan

Wolff has supported the bill with his logical reasoning. However, his biggest asset has a massive difference of opinion.

Lewis Hamilton is not in agreement with Toto Wolff on the topic of the driver salary cap

Max Verstappen, Charles Leclerc, and even Hamilton hardly would ever speak in unison. However, for the topic of the driver salary cap, all three agreed with one another and definitely not with Toto Wolff.

Speaking to GP fans, Hamilton said, “There is some merit in what was expressed [by Verstappen]. There are many of us here who were heavily invested in as youngsters and have had to pay that back, which you would naturally want to do anyway. And so that, for sure, could have an impact on the future for the younger generation.”

WATCH THIS STORY: Christian Horner Unhappy with 2022 Budget Cap, Calls for Urgent Attention

The teams had their hands tied with the budget cap because that was to increase the competition in the sport. However, the driver salary cap does not solve that purpose. Do you think the bill will ever be passed?