The new team principals of Scuderia Ferrari, McLaren and Sauber, Frederic Vasseur, Andrea Stella and Andreas Seidl, will apparently receive a salary of about €6-8 million (£5.2-6.97m) as they start their new jobs ahead of the 2023 Formula 1 championship.
The end of the 2022 Formula One season was followed by a somewhat unexpected managerial merry-go-round during just one day earlier this week. While Ferrari had previously confirmed that Mattia Binotto handed in his resignation and would leave the Maranello team after 28 years, the Italian side then officially confirmed that Frederic Vasseur would be the one replacing Mattia Binotto at the top of the Formula 1 Racing Division.
Ferrari’s move triggered a domino effect as McLaren revealed Andreas Seidl was departing his position to become the chief executive officer of the Sauber Group, as he will oversee the future Audi project, with the German brand ready to enter Formula 1 starting with the 2026 season.
McLaren then confirmed Andreas Seidl would be replaced with immediate effect by former Ferrari race engineer Andrea Stella, who has therefore been rewarded with a promotion from his former role as executive director at McLaren.
According to Sportune, an online media that publishes advice and editorial content about sports business, Frederic Vasseur, Andrea Stella and Andreas Seidl will all earn in the region of €6-8m in their new jobs leading Scuderia Ferrari, Sauber/Alfa Romeo and McLaren respectively.
Show your support for Scuderia Ferrari with official merchandise collection! Click here to enter the F1 online Store and shop securely! And also get your F1 tickets for every race with VIP hospitality and unparalleled insider access. Click here for the best offers to support Charles and Carlos from the track!
However, those salaries are overshadowed by the eye-watering figures reportedly earned by the two most successful team principals in Formula 1, Toto Wolff and Christian Horner.
After leading Red Bull to putting an end to Mercedes’ dominance in 2021 in terms of drivers’ championships following a dramatic and controversial final round in Abu Dhabi, Christian Horner had an even more successful campaign with Red Bull this year, easily securing both the Drivers and Constructors’ title for the Austrian side. As reported by Sportune, Christian Horner currently earns between €8-12m (£6.97-10.4m) per season.
The French online media outlet also informs that Mercedes boss Toto Wolff takes home a staggering “minimum” yearly salary of €16m (£13.9m), with potentially important bonuses based on track performance. This is possible because the current F1 budget cap rules state that the wages of the three highest-paid staff members, along with driver salaries, are not included in Formula 1’s financial rules.
Leave a Reply