If you thought Cricketers in India are overpaid. Cricketers not being happy with 100% rise in BCCI’s annual retainership fee is unfair. Please have a look at the F-1 annual contracts. Comparison in sports is unfair. In performance, records and finances, alike. But, comparisons do give perspective to analysis.
For hardcore Formula One followers this story is about how their favourite stars fare on revenue charts. The highest paid driver this season, Sebastian Vettel’s annual contract with Ferrari is 33% more than Virat Kohli’s projected gross income of Rs 255 crores this fiscal year. For purists of F-1, the difference between the numero uno Vettel and 10th placed Kevin Magnussen is almost 50 times. Yes 50 times. In Indian rupees Rs 320 crore and Rs 6.4 crore respectively.
Vettels’ three-year contract with Ferrari places him amongst the highest paid sportsperson in the world. The contract assures him of Rs 320 crores ($ 50 million) – Rs 192 crore ($30m) in basic salary plus bonuses. This amounts to an average of Rs 16 crore rupees per race. Again, comparisons are unfair. But, Kohli gets only Rs 15 crore for 47 days of IPL. The Indian cricket stars with a 150% enhanced fee this year will be pocketing Rs 15,000 lakh for a five-day Test.
Lewis Hamilton stays with Mercedes for three years for an annual assured contract of Rs 198 crore. Fernando Alonso of McLaren is No. 2. Placed between Vettel and Hamilton with an annual salary of Rs 256 crore.
Another interesting fact about F-1 is the entry fee structure for the teams. The aim for each team is to score as many points as possible. But each point digs a whole in the pocket. How? This InsideSport will share in the next part of F1, the numbers game.