“Need to review mechanism” – Italian epidemic decree forces Ferrari boss Matia Binotto to request consideration in budget cap.
Due to the losses to Formula 1 teams, it was unanimously decided that there would be a $ 145 million budget cap for the 2021 season, and would be extended to the following season.
However a lot of things are out of the budget cap list, such as Driver’s salary, Still the big 3 teams of F1-Ferrari, Mercedes and Red Bull have exceeded their budget by $ 400 million.
Ferrari, According to forbes, Costs close to $ 570 million in Formula 1. Of that, about $ 100 million is devoted to staff, with the combined salaries of drivers Sebastian Vettel and Charles Lechler at about half that figure.
However, things here get complicated for Ferrari, as newly introduced. Decree by the Italian Government The epidemic prohibits layoffs until they cease their operation.
A Italy-based company can only lay off employees if it “permanently ceases operations through liquidation, temporarily declares bankruptcy without continuing operations, or aims to encourage voluntary employee separation.” Makes a collective agreement with unions. “
Mattia Binote asked for consideration
With so much of the workforce going in, Ferrari is now in a fixed position because their national guidelines do not allow the company to cut costs by sheltering people. Therefore, Matia Binotto has urged for a review.
“Knowing that the condition of COVIDs, to dismiss people, to remove people in that period is very difficult,” Beinot said in Bahrain on Friday.
“Knowing that in terms of the message, it would be completely wrong, I think, when we are in a state of such COVID epidemics, people have to overcome, and I think the epidemic is not over and We’re still let me say an emergency. “
Binote hopes the FIA and Formula 1 take another look at the budget cap, at least in terms of personnel until an epidemic occurs.
“There is a need to review this mechanism, and ultimately we should try to postpone that mechanism, eventually to the end of the year,” Binotto said.
“I think that, again, like social responsibility, it will happen again, very bad for people doing business during COVID, and knowing that we need to do it very soon, we don’t believe it That would be the right approach – so this is something that I am very keen on and I would like and I would discuss with the FIA, and with other teams, is there any possibility of an adjustment that is still an emergency?
“He’s on one side. On the other hand, as you said, how are we organizing ourselves. Obviously, we were trying to restructure our entire team. We’ve got it somehow … We’re trying to regroup people on road cars because we’re still a very big company. “
“These are some of the opportunities that we have had, but this is a difficult exercise on which we have started. The solution is not clear, ”he concluded.