Formula One news

Renault drivers' sallaries decreased

The two Renault drivers are due to take a pay cut this year, following a request from Team Principal Flavio Briatore. The news is the latest in a string of cost-cutting measures in the sport, although the majority have so far have been widespread as opposed to being on the agenda of individual teams.

Flavio Briatore, Renault Team Principal

"I told the drivers that it would be appropriate to lower their salaries," Briatore explained to Italy's Chi magazine. "They understood and we reached an agreement." Information on the cuts was not provided by the Italian although Alonso will retain a significantly larger pay cheque than team-mate Piquet, chiefly due to his status as former double World Champion.

As the international credit crunch rumbles on, Briatore stressed that costs must be seriously taken into account in the sport: "Formula One is in the middle of the crisis and we will try to adapt in a way that we can face the situation by reducing our costs."

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