Canindia News

Daniel Ricciardo agrees to cut multi-million-dollar salary

Sydney, April 15 (IANS) Australian F1 driver Daniel Ricciardo will take a cut to his multi-million-dollar salary in order to help his team, Renault weather the COVID-19 pandemic. Ricciardo is among the world’s highest paid sportspeople, with a reported annual salary of $25 million.

Renault’s F1 boss, Cyril Abiteboul, told French newspaper L’Equipe on Wednesday that the 30-year-old has agreed to take a pay cut, with negotiation of his contract due for 2020 regardless since switching from Red Bull the year before, reports Xinhua news agency.

“It’s a discussion we’ve already had. Daniel has already confirmed he is willing…I can confirm to you that he will reduce it,” Abiteboul said.

“We still have to fix the terms but, in principle, I can reassure the Renault group management committee; I do not fear it will destabilise the F1 program.”

F1’s season-opening race in Melbourne, scheduled for March 15, was cancelled at the last minute with the Monaco Grand Prix also getting subsequently axed.

Abiteboul said that with races cancelled or postponed, contract negotiations were significantly hampered, with the company potentially forking over millions of dollars for little return.

“We would have evaluated Daniel’s performance over the first four races and started or not the first discussions,” he said.

“We haven’t turned a wheel. We are blind but have to plan, we may have to take decisions without the season starting.”

–IANS

aak/

YOU MAY ALSO BE INTERESTED IN

Four Olympic-quota winning boxers inducted in TOPS

CanIndia New Wire Service

Bahrain GP: Hamilton claims 11th win of the season

CanIndia New Wire Service

Boxer Duryodhan Singh Negi tests positive for Covid-19

CanIndia New Wire Service

Tyson, Jones Jr share engaging draw in ‘exhibition’ bout

CanIndia New Wire Service

Djokovic & Nadal to finish inside top 2 for third straight year

CanIndia New Wire Service

Reigning champion Ding Junhui edged out of UK Snooker C’ship

CanIndia New Wire Service

Pro Kabaddi League Season 8 postponed due to Covid

CanIndia New Wire Service

2 wrestlers, physio test Covid positive, all asymptomatic: SAI

CanIndia New Wire Service

FB partners Sony to show exclusive content from India’s Oz tour

CanIndia New Wire Service

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

SUBSCRIBE TO OUR WEEKLY NEWSLETTER

Stay up to date with the latest news and exclusive offers directly in your inbox