I'm in two minds about a salary cap in F1.
It would be a good thing in so much as the "smaller" teams could also have top flight talent in their seats.
It could be a bad thing in so much as the top flight talent will just move to a different series (like Indycar as a piss poor example) where they could earn more money.
Even with a $25 million salary cap they would still be the highest paid drivers in the world.
Scott Dixon, one of the most successful IndyCar/US open-wheel drivers in history, reportedly earned $3 million base salary last season and his total career earnings are said to be $36.5 million. Scott is 2nd all-time with 6 IndyCar championships (including 2020) and is 3rd all-time in wins with 52, and his entire career earnings are less than what Hamilton will make this year. Over 50% of the IndyCar grid earns less than $1 million.
The top NASCAR drivers earn more than Indycar but not one of them come near the mega salaries of F1. Kyle Busch, one of the greatest NASCAR drivers of all-time, earned $17.6 million in his 2019 championship season. The key thing with NASCAR earnings though, they are heavily tied to race performance as prize money is awarded per position. On top of this their salary figures include endorsements. Base salary for someone like Kyle Busch is around $6 - $8 million but he makes it up on how he performs and how many companies he endorses. So while Kyle earned $17.6 million in 2019, last year he had a terrible season by his standards and only won one race, so he would've been lucky to make more than $10 million.
Notably, both IndyCar and NASCAR drivers earn considerably less than they did 10-years ago. At the peak of US open-wheel racing in the 90s, top drivers like Michael Andretti were earning salaries rivalling Senna/Prost/Mansell. NASCAR had money coming out of its ears during its explosive popularity of the late 90s and early 00s with top drivers easily raking in $20 million+ per year in salaries and prize money.
This is a pretty good comparison;
For 2019, the 10 highest paid NASCAR drivers earned a combined $120 million.
The ten highest-paid Nascar drivers earned an estimated $120 million last year, $60 million less than the top drivers a decade ago.
www.forbes.com
In 2019, Lewis Hamilton and Sebastian Vettel between them earned an estimated $102 million.
How much do today's stars of the F1 grid get paid?
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