From cars that built a brand to those that changed racing history, their importance as milestones in auto manufacturing more than justifies their lofty asking price. Max has champion status already, at least by the number on his contract. The Million Dollar Man character was based on the type of wrestler that Vince McMahon would want to be. • if every driver is paid the same it will be a battle for the midfield to secure “a potential winning driver” for the next year •after a driver wins the world championship they risk being dropped the next season if they drop a few places •who will push or take risks to win if the risks put your career at risk In an ideal world the budget cap will only highlight the worth of the drivers pay gaps. NEXT: These Are The Rarest Italian Sports Cars Ever. Because there is also a salary floor, teams at the bottom of the series can exploit that because of quirks that mean that teams have to pay the salaries of injured players. The highest-mileage examples or those in need of serious restoration can sell for a fraction under a million. HAM 40 VET 30 VER 25 RIC 20 LEC 10 BOT 8 PER 8 GRO 7 RAI 5 MAG 5 OCO 5, Leclerc is sure the MVP – best bang for the buck. I base that on the prevailing thinking that any employee should be paid an equal salary for equal work requirements. The stars of those sports are known world wide and earn accordingly. The founding member of the band Rolling Stone, Keith Richards is an English guitarist, singer and song-writer. $40 mil for Hamilton and only $8 mil for Bottas. Investor Relations. NS Biker (@rekibsn) 30th March 2020, 19:50. 2020 F1 season. They’re NOT paid to risk their lives, it’s safer than driving a normal car on the road! So yes these drivers deserve every penny and maybe more, because none of these drivers should risking their lives for your amusement without being properly compensated. It’s Ferrari’s own fault that they hired the wrong driver (especially when was being trashed so badly in 2014 when they were hiring him anyway) and way over paying him in the process. Keith Richards has made his huge fortune of $340 million with his band … As well as being incredibly fast, the Miura also cemented its place in pop culture. There are enough millionaires around now that it can seem like every good-looking Italian sports car from a few decades ago will sell for sky-high prices. I suspect you are right, in that whether or not the drivers’ pay is within or without the cost cap they will go home with about the same amount of money, but, noting that I’m not an accountant, I suspect having the driver’s pay within the cap is slightly more honest. Companies like Redbull, Mercedes, and Ferrari or guys like daddy Stroll and Gene Haas make insane profits year after year. A fresh take on sports: the biggest news and most entertaining lists. How do you feel about Phelps or Usain Bolt swimming/running every 4 years? It's an all-round iconic car and one that made Lamborghini into the brand that it is today. If Ferrari / Mercedes / Red Bull can’t afford to pay the big salaries in future, they simply won’t. A talented driver with a slack attitude is a bane to a team. So they try again with Leclerc. Esploratore (@esploratore) 31st March 2020, 1:14. I don’t really understand this one Dieter. Still, consider your own job/position/career. F1 revenues fell by $877 million in Covid-struck 2020 season; Hamilton and Mercedes finally announce new deal for 2021 season; F1 audience figures “strong” in 2020 despite dip in television viewers; 2020 F1 driver rankings #1: Lewis Hamilton; 2020 F1 driver rankings #2: Max Verstappen; Browse all 2020 F1 season articles Not if you look at the typical gap between Lewis and him. There are hundreds of highly paid sports stars around the world, some earn squillions and they’re no longer winners, for example Maria Sharapova. The NFL and NHL are two examples of very large, financially stable and wealthy sports franchises that have endorsed the salary cap or Budget Cap concept. He along with 100s of others make their money because of what these drivers do week and week out. Because I can guarantee you would not devote all what you need to become good at any sport and expect minimum wage. Maybe if the manufacturers use the drivers in a advertisement then yes. The cost cap is long overdue in F1, but I’m not sure if the inclusion of driver salaries would really achieve anything further. NFL players are trapped in their sport. No. Not saying that I like the concept (I don’t) or that they are perfect or should even be held up as model organizations, just that much can be gleaned from their past experience. Of course, the powers that be would rather keep the money for themselves and will come up with any excuse to make that happen. Base salaries should be much closer within teams. If a budget cap is affecting the wages an employment of the engineers (who play a much bigger role in winning championships) why shouldn’t it affect drivers? I dont think drivers salaries should be included in the budget cap! There are 297 days left in the year. Alonso had many personal sponsors follow him around. I’m going to the movies. It's a car that's every bit as special to drive as a 250 but for a fraction of the price. Still, I don’t view his abilities and performance outcomes as being 5 times more valuable than Bottas’s. Your email address will not be published. Racing Point Lance Stroll $3m “Hey dad! K Mag is only on circa 1/3 of what you have as well. If your interest is in the value of the franchises for the big teams, yes, it might look good – but from the perspective of a number of players, the cap system creates opportunities for the team owners to exploit and abuse the system for their benefit at the expense of those players. Smaller teams have not complained as far as I know. And yet, that is the difference between Hamilton’s $40 million per ear and Bottas’s $8 million per year. Yet again trying to drum up an issue out of thin air. It was also a favorite among musicians, with Frank Sinatra owning one and Eddie Van Halen revving one in his band's 1984 song, Panama. Who cares how much the drivers earn anyway? $1M is way to low, I agree with focusing more on race placements maybe to control salaries, but a base salary I think is a must. If there are a number of other employees doing the same work as you do, would you feel equally valued if one of more of your fellow employees are being paid two, three, 5 times more than you are? Seems a pointless circle-jerk where everyone pays more tax. Which you would know more about than most, heck even me – I don’t work in F1, I’m only a fan. He was billed as having a spring residence in Palm Beach, Florida, a summer residence in Hyannis Port, Massachusetts, an autumn residence in Bel Air, California, and a … Image rights might play a role, but I’m skeptical of that. It's certainly pricey but it's widely regarded as one of the best '50s convertibles around, so for those with the cash it's a price worth paying. Please could someone explain why pay drivers such as Stroll and Perez are paid salaries when they contribute financially to the team? On the other hand, if the driver’s pay is outside the cost cap then one way a team might increase the amount they can spend on a car is to bill the driver for various items that you’d expect them to pay for. The company was originally formed when Giotto Bizzarrini, ex-chief Ferrari engineer and designer of the 250 GTO, walked out of Ferrari after a dispute. So I suspect a team would happily play along with a driver’s desire to be paid slightly more than what their market rate is knowing they’d claw back some of that extra amount paid. Be nice to see a table of what pay drivers are contributing to teams. The importance of these cars as milestones in auto manufacturing more than justifies their lofty asking prices, no matter how extreme they seemed. However, teams should arrive to this conclusion themselves. You need the talent. If Rosberg hadn’t run away, he might still be languishing in a Williams and earning peanuts. The most recent example to come up for auction sold in late 2020 for $2.04 million. One thing is for certain, we will see a more level playing field regarding technological advantage in 2021. by Associated Press Published Mar. The answer is, no he didn’t. The car took inspiration from the Jet Age design language of the time, with its curved body and tapered lines making for a strikingly unique look. Trayambak Chakravarty (@major-dev) 30th March 2020, 16:49, It seems like Bottas is severely underpaid (relatively). People want to see the sport, so they funnel money into the infrastructure, and companies want fans to see their logos, so they’re funnelling money into the teams, which know that the better the driver, the higher up the ranking they place, the more money sponsors, fans, companies throw at them. concept cars made headlines in 2020 when they sold for nearly $15m, making them one of the most expensive auction lots of the year. Neil (@neilosjames) 30th March 2020, 16:52. Mark Cowley covers a variety of topics for HotCars, from the latest pickup trucks to obscure Japanese sedans. So I don’t think a cost cap on driver salaries is needed to ‘save the big teams from themselves’ so to speak. Not capped. If the top teams want to throw money at them, let them; that is not what is holding the smaller teams back. Congratulations to The Baltimore Sun for winning the 2020 Pulitzer Prize in Local Reporting America’s Test Kitchen articles and recipes now available from Tribune Content Agency Broom-Hilda comic strip turns 50 years old! For example, if a driver’s salary is part of the cost cap, then wouldn’t a team want to minimise it so they can spend more on the car? Local leaders, attorneys and Catawba Nation Chief William Harris all say the casino is happening - and it’s happening fast. Its unique sunken windshield was a way to get around the regulatory requirements at the time, and caused quite a storm when it debuted. What an incredibly poor article again. Surely f1 drivers have 200 times the stress , worry, sleeplessnights and emotional anguish than our PM . It's also arguably one of the best-looking 250s, with its iconic body shape closely resembling that of the extortionately-priced 250 GTO. @f1osaurus what does the pandemic have to do with F1 salaries? Jimmi Cynic (@jimmi-cynic) 30th March 2020, 20:56, Exediron (@exediron) 31st March 2020, 9:26. Having previously worked as a radio presenter, he knows a thing or two about Top 10 lists, and enjoys writing them as much as presenting them. Jeffrey (@jeffreyj) 30th March 2020, 17:04. So, it's a great option for the deep-pocketed collector looking to make a smart investment. In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost US$67,000 on a 10-second video artwork that he could have watched for free online. Sometimes, though, a car really deserves its million-dollar price tag. Given that only 15 were ever made, that number is likely to increase whenever examples are listed in the future. If MB were to bring the salary difference between Hamilton and Bottas much closer, I’d be willing to bet that their yearly performance outcome would still be about the same with the glaringly outrageous salary difference between Hamilton and Bottas. And Vettel…I’m sure it seemed the right thing to do for the Malboro Man (I forgot his name) and Marcchione. “Paying race drivers 50 times as much as the USA pays its president or 200 times the earnings of Britain’s prime minster – regardless of the individuals – is unsustainable. @exediron No it’s not. The septet released two films with limited screenings: Love Yourself in Seoul ’s one-day event grossed $11.7 million worldwide, while Bring the Soul: The Movie brought in $24.3 million … Whilst others are laid off they continue to be paid (I presume) these amounts of money for doing nothing? Get dropped from American Football and it’s game over. Even a not so talented person can make a success of themselves if they work hard. What? Home. Are we going to downplay what drivers do by equating it to a few hours or sweat and a marketing commitment, seriously feel free to put your life at risk for the entertainment of other human beings and then don’t expect to get paid. Latest News: Get all the latest India news, ipo, bse, business news, commodity, sensex nifty, politics news with ease and comfort any time anywhere only on Moneycontrol. If the company doesnt have anything to do for it’s employees then it’s their problem. ‍♂️. Jimmi Cynic (@jimmi-cynic) 30th March 2020, 20:53. These losses have hit shareholder earnings, with earnings per share coming in -€0.20 (-$0.22), albeit this is an improvement on Q1 2019’s -€0.79 (-$0.86). There’s plenty of talented drivers, and any team can have a good driver for a million or so. Sponsorship maybe a thing of the past which will take its toll on heavily sponsored sports. To reduce this to a few hours an Sunday is an insult. The Italians have arguably built more of these cars than any other nation, so let's take a look at ten of their most deserving million-dollar classics. Well, that's not true all the time, as there are some real bargains to be had for the savvy buyer. Even high-mileage examples will fetch over a million but it's well worth it to own such a key piece of automotive history. Grosjean worth more than Raikkonen? The video by digital artist Beeple, whose real name is … The obvious, and simple, answer is, yes. It was a record it held on to until 1982, when it was unseated by Lambo's newest creation, the Countach. Stop reducing persons skill to just what you see on paper, when there is so much that goes on behind the scenes. Ocon isn’t worth $250k and Renault are tight so no way they’d be stupid enough to pay $5m. Would be a nice gesture if the f1 drivers clubbed together and donated essential , life saving medical equipment….. Aussie Rod (@aussierod) 30th March 2020, 13:23. Don’t blame the drivers: they’re simply taking what’s offered by teams. Unique lists featuring pop culture, entertainment and crazy facts. Abstract: - Global Vancomycin Market to Reach $465.1 Million by 2027 - Amid the COVID-19 crisis, the global market for Vancomycin estimated at US$313.7 Million in the year 2020, is projected to reach a revised size of US$465.1 Million by 2027, growing at a CAGR of 5.8% over the period 2020-2027. Could any person, regardless of economic times, justify an annual income of $50m for a couple of hours of sweat time on 22 Sunday and the odd marketing commitment? Because those are the people that have busted their collective behinds (and often even their marriages) for these companies for years on end. Regarding the question about “salary caps” for F1 drivers, as crazy as salaries are around the world for athletes in all sports, there is no justifiable reason to “cap” salaries in any sport. The teams can decide very well how much they want to pay them. You, the_grouch and Lewis. If you put away all the effort it takes to remain a champion over 4 years, Bolt only technically runs for 9.6 seconds, right? Krommenaas (@krommenaas) 30th March 2020, 20:40. So I suspect under this scenario a driver would be offered slightly less than what their market rate is, but that the driver would get more “free” stuff to compensate for the shortfall. Saying they are getting paid for a “…couple hours of sweat time…” is beyond insulting. No. If I recall correctly, Giancarlo Minardi once responded to the question of would he hire Michael Shumacher for the BIG bucks he was getting. RELATED: 10 Cars With Wings That Would Put A Jumbo Jet To Shame. It appeared in The Italian Job, famously speeding through the Alps. No, hard work with the help of talent is king. The physical and mental strain drivers experience while driving an F1 car are is beyond the limits of what most human beings are capable of. Company Info; Financials. This is yet another example of a press member who because he has covered the sport for so long somehow thinks he knows what it is to actually drive in Formula 1…he DOESNT. At the end of the day, even a pay driver in a Mercedes would still handily beat Hamilton in a Williams. Brave article Deiter, some drivers are not going to like one bit. Should be the same goal in F1 if they are serious about the spending cap, but let the teams control how to allocate it. I somehow thing F1 drivers will stay off these sites altogether. These people are human beings, not your puppets that you have at your beckon call. He was ranked fourth on the list of 100 best guitarists by The Rolling Stone Magazine. There’s no games for retired players, there are no games for anyone who doesn’t play at college and then become a professional. NFL has no relevance to any other sport – full stop. Sure the teams get it wrong now and then too. The marque was recently brought back from the dead for a run of limited-edition new cars, but Bizzarrini are most famous for their '60s models. What does the pandemic have to do with driver salaries? Consider the fraction of Hamilton’s yearly salary that Bottas gets, and Bottas still gets some wins, the disparity between those two drivers, on the same team, is quite ridiculous. It might be profitable for those who own those franchises, but it seems that quite a few of the players have complained that it’s a dehumanising experience and that they’re no longer treated as people – they’re now purely a commodity, a financial asset that is to be traded away to make the numbers fit the accounts. To be honest I don’t think he’s that much better, but that’s how it goes. Ricciardo also wanted parity or close to parity to what they gave Max because he was essentially scoring the same amount of points etc. Even if we triple the mimimum hourly wage and apply it for 10 seconds, he should still walk away with $1-2 right for running that short a distance? Only the person/company how much any athlete is worth to their team. Concept cars of this magnitude very rarely come up for public auction, so that alone makes them worthy of a high price tag. How much an F1 driver, or any athlete in any sport, gets paid should be based on how much the team owner/s and the athlete can negotiate and agree. India market registered record shipment of 100 million smartphones in the second half of 2020, mainly on account of the pent up demand, according to a Cybermedia Research report released on Friday. You’re the one paying them. Given Hamilton’s obvious and amazing racing abilities, I understand why he is very highly valued by MB, or any team that may want him. The Miura was once the fastest production cars on the road, with a top speed of 179 mph recorded in 1969. Exediron (@exediron) 31st March 2020, 9:22. Can you say it about PM? While we may be interested, not really our business. Then you also agree that it’s money well spent, so don’t complain about how much they earn. acronym stands for Berlina Aerodinamica Tecnica, which roughly translated means Technical Design Studies. The cars were sold as a trio, and the B.A.T. Maybe we need to put Dieter in charge of “Justice Police” and make everyone poor? If driver salaries are to be included in the overall team budgets, something I would be in favor of, then like the Nike guys said … Just Do It. “This $69.7 million in coronavirus relief funding will support efforts to protect the lives and livelihoods of Virgin Islanders. In this day and age I expected so much better from us. 7 is the middle child of the group. The idea was to develop a model that was the pinnacle of what Ferrari could achieve in a road car at that time. Once Mercedes saw Hamilton driving in a Williams then only an exceptionally good pay driver would keep their seat at Mercedes. Does it provide entertainment value, definitely. With those kinds of numbers, it's easy to write these cars off as simply overvalued; just expensive toys that collectors will pay unlimited sums of money for. Can I have a million dollars?” :-), NS Biker (@rekibsn) 30th March 2020, 16:48. The sale of a Delta S4 Stradale in 2019 marked the first time that a Lancia had sold for more than $1 million. As to the salary cap system yes it isn’t perfect but some suggest it just needs tweaking but not abandonment. What about PewDiePie and his millions on stupid videos? But payment for an ad should be per ad, not part of their fixed salary. Finding an example in good condition is therefore a rare opportunity, which explains why the latest example to hit the market was estimated at around $3,000,000. In particular, a number of injured players have noted that they now have a weird and rather uncertain future, because those players are now a useful financial asset for those teams at the bottom of the league that do seem to be more towards the financial exploitation that Jimmi Cynic notes. Maybe only under RAI terms: I do what I want and I don’t go to press meetings…. I’m sure Bottas is more than happy. He sold it for US$6.6 million last week. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more That’s why team owners can limit players earnings. Developed from the successful A6GCS racing cars, the A6G/54 Spider is an incredibly rare beast. No need to go into socialists path here. Those drivers are paid as much as they are because fans are willing to pay for subscriptions, tickets, merchandise, etc. Add to that, they ALL work extremely hard; hard work simply isn’t a differentiator in F1 these days. 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