Asked whether the 30-year-old’s wages could pose an image problem, Abiteboul replied: “The problem would have been if he had not accepted the idea. The Australian is one of the sport’s highest paid drivers, earning as much as $39 million a year according to media reports. Find out more about our policy and your choices, including how to opt-out. Daniel Ricciardo’s contract with McLaren will see him take a lower base salary than he received at Renault, per a report from French media. The former Red Bull driver is reportedly facing a pay haircut of around $26 million per-year in his base salary, according to French reporter Marc Limacher. Daniel Ricciardo will reportedly take a monster pay cut as part of his multi-year deal to join McLaren from 2021. Inside Line: Will Newey be joining Vettel at Aston Martin? The 15 million euro per-year pay cut would represent a 60 per cent dive. Red Bull star Max Verstappen is the only other star to break the £10m per season barrier, on a reported $26 million. Melbourne Cup 2020: Post-race messiness, drinking, photos, C... Melbourne Cup 2020: Horse dead, Anthony Van Dyck dies, savag... AFL Trades 2020: Adam Saad, Orazio Fantasia, Brad Crouch new... Melbourne Cup 2020: Kerrin McEvoy fined for Tiger Moth whip,... Jack de Belin sex assault trial: Police allege NRL star told... Find out more about our policy and your choices, including how to opt-out. With the F1 season yet to start, and some fearing this year’s championship may have to be scrapped altogether, Renault could end up having to pay the 30-year- old handsomely for little return. Nationwide News Pty Limited Copyright © 2020. Sign up, Join the conversation, you are commenting as Logout. Vettel and Hamilton are both without contracts for the 2021 season, however, Hamilton is widely tipped to re-sign with Mercedes. That’s why we are having discussions and have a driver academy.”. — Ricciardo can unlock a series of bonus payments reportedly ranging from 400,000 euros every time he collects championship points to 1 million euros for each grand prix victory. The 30-year-old Aussie stunned the Formula 1 grid when his contract with the English team was announced just days after Ferrari confirmed Sebastian Vettel will be replaced by Carlos Sainz at the end of the year. Interestingly, that lines him up with seats at a number of teams, as Ferrari’s Carlos Sainz and soon-to-be Aston Martin’s Sergio Perez have deals that expire at the same time, while it is possible Mercedes could also have an opening, should they continue their practice of signing Valtteri Bottas to one-year deals. Ricciardo joined Renault from Red Bull last year with a contract that runs to the end of 2020. Believed to be guaranteed €20 million a year at the French constructor, from 2021 Ricciardo will take home just €10 million a year, albeit with the opportunity to raise that number as high as €31 million with bonuses. Ricciardo enjoyed one of the largest pay packets in Formula 1 since joining Renault at the start of the 2019 season — but his days of challenging Lewis Hamilton and Sebastian Vettel on the sport’s top-earners list now appear numbered. Join the conversation, you are commenting as, news.com.au — Australia’s leading news site. Please refer here for our site terms. “It’s a discussion we’ve already had. Abiteboul told French newspaper L’Equipe that Ricciardo’s salary would not be a destabilising factor after the French carmaker furloughed most of its F1 staff at the Enstone factory in central England. DRIVEN.co.nz is the new home of Automotive, with thousands of listings, latest automotive news, ownership tools, car comparisons and reviews to help make your vehicle decisions easier.… You’ll find it all - and more - under DRIVEN.co.nz, F1: Ricciardo set for McLaren move, while Sainz replaces Vettel at Ferrari, Daniel Ricciardo's self isolation spot a far cry from hectic Formula 1 calendar, "Who is your least favourite driver?" A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. Calculations are based on an interest rate of 10% per annum over a 3 year term with no deposit. Now Limacher claims Ricciardo’s deal with McLaren is worth $17 million per-year (10 million euros per year) — less than half his current deal. Abiteboul: I’d like to apologise to Esteban, 2020 Emilia Romagna Grand Prix Driver Ratings. Don't have an account? Daniel Ricciardo’s contract with McLaren will see him take a lower base salary than he received at Renault, per a report from French media. “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.”. That means Ricciardo’s first chance to re-evaluate his position in F1 will come at the end of the 2022 season — the first year of the new technical regulations. However, the fine print in the contract reportedly includes a series of juicy bonuses for the Aussie, including: — Ricciardo has been guaranteed status as the team’s No. Daniel Ricciardo is taking a pay cut.Source:Getty Images. Believed to be guaranteed €20 million a year at the French constructor, from 2021 Ricciardo will take home just €10 million a year, albeit with the opportunity to raise that number as high as €31 million with bonuses. They may also have to make tough choices when it comes to contract negotiations. In The Pitlane: Lawrence Stroll F1’s rainmaker, Hakkinen: Max’s Red Bull the only competitor Mercedes face. Driver61: Why F1 Suspension Doesn’t Use Springs! He signed a two-year with Renault at the end of 2018, which would have net him $78 million. F1 has said it hopes to run a reduced calendar of 15-18 races from the European summer. The Sun reports Ricciardo started 2020 as the third highest paid star in Formula 1, behind only Lewis Hamilton and Sebastian Vettel. Daniel Joseph Ricciardo (/ r ɪ ˈ k ɑːr d oʊ / "Ricardo"; born 1 July 1989) is an Italian-Australian racing driver who is currently competing in Formula One, under the Australian flag, for Renault.He made his debut at the 2011 British Grand Prix with the HRT team as part of a deal with Red Bull Racing, for whom he was test driving under its sister team Scuderia Toro Rosso. Reuters news.com.au April 15, 2020 11:35am Ricciardo is making some sacrifices, but at the time of the coronavirus Ricciardo can still be happy with such a large contract, which will not be given to a second driver at Red Bull. McLaren boss Zak Brown speaks exclusively to Sky Sports News' Craig Slater about a dramatic week of transfers in F1, with Carlos Sainz off to Ferrari in 2021 and Daniel Ricciardo … As to the length of the contract, the Australian is locked-in on a two-year deal, with the option for a one-year extension should he desire. Daniel Ricciardo Annual Salary ($34 Million):This might be Daniel Ricciardo last season with Renault F1 his salary reported to (£26.5 million) a year according to UK news sites in 2019. As reported by sportune.fr, Ricciardo will receive an additional €400,000 for each points finish, and €1 million for each victory from the Woking outfit. Seven other races have been postponed and more are likely to join the queue for rescheduling. The report claims Ricciardo was set to earn a stunning 25 million euros ($44.5m) with Renault during the 2020 Formula 1 season before the Aussie accepted a pay cut during the coronavirus-enforced season lock down. Currently no official confirmation about his extension of contract with team released. All times AEDT (GMT +11). Details of Ricciardo’s bold move are now beginning to leak out, according to a veteran French Formula 1 journalist. Did F1 race control put marshals in danger at Imola? Daniel Ricciardo will join McLaren for the 2021 Formula One season, the team confirmed on Thursday, taking the place of Ferrari-bound Carlos Sainz. The German, who will quit Ferrari at the end of this season, takes in $68 million per year, while Hamilton is the top dog with a salary of $78 million. We are blind but have to plan,” Abiteboul added. F1’s season-opening race in Melbourne on March 15 was cancelled with the Monaco Grand Prix also subsequently axed. Daniel Ricciardo will reportedly take a monster pay cut as part of his multi-year deal to join McLaren from 2021. “We would have evaluated Daniel’s performance over the first four races and started or not the first discussions.”, “We haven’t turned a wheel. Australian F1 star Daniel Ricciardo has signed with McLaren from 2021, quelling previous speculation that he might replace Sebastian Vettel at Ferrari. Daniel has already confirmed he is willing … I can confirm to you that he will reduce it (his salary),” said the Frenchman. “We may have to take decisions without the season starting.”, Asked whether it was a problem if Ricciardo left, the Frenchman replied: “It would be if I had not seen it coming or anticipated it. In the best case Ricciardo can still earn 93 million over his two years at McLaren, but victories and podiums will probably not be the order of the day in 2021. Ricciardo’s future with Renault is unclear.Source:AFP, “In a normal season, we would have started work on the matter,” said Abiteboul. To join the conversation, please Log in. Daniel Ricciardo grilled in schoolkid interview, $67M garage: Alleged fraudster's incredible car collection fetches a fortune at auction, Immaculate 'Group A' Holden Commodore up for grabs in NZ, Ranger responds to ute rivals with even more models for 2021. Outpouring of Support for Russell after Imola blooper, Shovlin: We weren’t believing the sensors on Bottas’ car. This budget tool is intended as a guide and starting point only and is not in any way a finance quotation. Daniel Ricciardo will take a pay cut to help Renault through the coronavirus pandemic but talks about his future are already complicated, according to his F1 team boss Cyril Abiteboul. Daniel Ricciardo has accepted a pay cut to his whopping salary but his future at Renault is cloudy as coronavirus causes confusion. The 30-year-old Aussie stunned the Formula 1 grid when his contract with the English team was announced just days after Ferrari confirmed Sebastian Vettel will be … 2020auto racingDaniel Ricciardof1formula 1formula onegrand prixmotorsportracingseasonworld championship, Inside Line: Forgive me father for I have simmed. Daniel Ricciardo has accepted a pay cut to his whopping salary but his future at Renault is cloudy as coronavirus causes confusion.

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