According to Verstappen, salary caps don’t just make sense for drivers, but also for junior drivers who rely on sponsorships to make ends meet early in their careers. Before becoming F1’s youngest competitor in history, Verstappen drove in the FIA European Formula 3 under Van Amersfoort Racing as a junior driver. At the time, Verstappen was also sponsored by Jumbo, a large Dutch supermarket chain.
“In all the junior categories if you see how many of those drivers have a sponsor or a backer, who eventually will have a certain percentage of their income in potentially F1 or wherever,” Verstappen says. The Sports Grail estimates that Formula 2 and Formula 3 drivers are believed to earn $225 to $500 a day. In addition, junior drivers also pay for a seat to compete in the junior driver’s championship. With a salary cap, Verstappen argues that the financial backers won’t be able to make back their investment, which may lead to fewer junior drivers receiving support.
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