Pilot salaries plummeting in 2009?

Formula 1 drivers will likely also face the consequences of the global economic slowdown by accepting reduced salaries.

The FIA and the teams have worked in recent weeks to discuss a major revision of the technical regulations to reduce budgets. These measures aim to counter financial difficulties.

But Ferrari’s team principal, Stefano Domenicali, believes that these savings are just the beginning of a process that will subsequently see a reduction in drivers’ salaries.

« In the coming months, there will be a major revolution regarding pilots’ salaries, » Domenicali stated in an interview for the Italian magazine Autosprint.

All teams could be affected by this problem at one time or another. Not just the small teams with low budgets.

« Whether they are big or small teams, reducing costs affects us in the same way, » he explained.

« However, I think that in the current climate, the big teams won’t have the resources to offer everything their drivers want. The smaller ones can’t do it now. »

When asked if the clauses in the contracts that were recently signed, like Kimi Räikkönen’s at Monza, could be changed, Domenicali stated: « Everything can be changed in life. »

« The important thing is to want to do it. We know the terms of the contract. However, I am convinced that this issue will soon be discussed among all the teams with the agreement of all the drivers. »