Briatore Accepts Pay Cut from Renault

Flavio Briatore has also committed to a pay cut in the wake of the financial difficulties endured by Renault for their F1 operations. The Italian team boss has therefore taken the example of 2-time world champion Fernando Alonso, who has already agreed to a 35% cut of his current financial deal with the Enstone based team.

As Briatore's contract is not subject to media debate, we don't actually know how much Renault will save with the Italian principal. However, according to a media report from German magazine Auto Motor und Sport, it seems Briatore will earn 20% less money from the French car maker as compared to the previous season.

Briatore announced, earlier this year, that all the personnel at Enstone must accept a pay cut ahead of the new season in order to maintain a functional F1 operation in 2009. Due to the economic downturn that affected the sport heavily in recent months, only such a measure would ensure a healthy financial environment within the Enstone factory.

According to the aforementioned report, all the team engineers will earn approximately 10% less in 2009 than in the previous season. The only member of the Renault F1 Team not subject to the latest pay cuts seems to be Brazilian driver Nelsinho Piquet, who is presumably earning a maximum $1M in his sophomore F1 year.

“With me, there is hardly anything to reduce,” admitted the 23-year old driver, when asked about a potential pay cut.