ringo wrote: ↑
Thu Jan 21, 2021 4:51 am
The thing is with Mercedes is they have to give Hamilton more money than he was getting in the previous contract.
Good performance must be rewarded. F1 is a business and it makes no sense that he wins a champion and breaks records and gets less money. If he even gets 1 million more and some other perks the team is obligated to give an increase. That's how capitalism works. His value has increased because of his success and hardwork. Him taking less is irrational.
I only hope he isnt asking for ridiculous things.
Hamilton may very well have justified an increase in pay, unfortunately the circumstances have not been static. The pandemic has had a real effect on company bottom lines, Mercedes included.
If Hamilton gets $50M(+), he will be earning as much as half the workforce of the Mercedes F1 team combined, at a time when Daimler has already indicated it will cut 10,000 to 20,000 employees worldwide over the next couple of years.
There is an argument to be made that Hamilton is a more visible representation of the Mercedes brand, but I highly doubt he has greater influence on the global functioning of Daimler, certainly not as large as is implied by the discrepancy in pay between Hamilton and the Daimler CEO. Daimler executives have also taken a 20% paycut during the pandemic.
The optics of giving Hamilton a pay increase, while the overall business health has plummeted and people are being retrenched, do not work in Hamilton's favour. It's just bad timing.
As was mentioned in another post, things are amicable until they become acrimonious. If either Mercedes or Hamilton begin to draw lines in the sand, the goodwill between both parties will vaporize.
Hamilton accepting less would actually be pragmatic in the long run, especially if he wants to maintain a working business relationship with Mercedes beyond his racing career.