Jenson Button Cuts Salary In Half To Help Honda Team Survive
After all the speculation and conjecture, the Honda Team appears as though it will survive. Part of the reason is the decision of Jenson Button to cut his salary in half.
Honda shocked the Formula One world by withdrawing its racing effort during the offseason because of economic issues arising out of the global meltdown. Since that announcement, a small swarm of potential buyers have been mentioned. They’ve included wealthy individuals ranging from Bernie Ecclestone to Richard Branson. The rumors have also included mystery companies to well known admirers like Petrobras in Brazil.
At the end of the day, it appears the team will survive. The rescuing party? Apparently it is the current management as spearheaded by the brilliant Ross Brawn. Yes, after all the screaming and yelling and wild speculation, the insiders on the team are the ones coming to the rescue.
There has been no formal announcement regarding the rescue, but a bit of reliable information that has come to the forefront is the budget is going to be slashed. There are no offered figures, but it is rumored that the team roster of 700 plus employees will be cut in half at least and probably far more than that. Without manufacturer support, this can hardly be a surprise.
Faced with a career killing year off the grid of Formula One, Jenson Button has apparently also decided to do his part. Instead of pulling in his contractual $15 million for the 2009 season, he has agreed to slash his salary by 50 percent and suffer through for a mere $7.5 for the 2009 year.
All kidding aside, it is a smart move by the driver. It is the rare driver that leaves Formula One under any circumstance and then is able to come back to a seat on the grid. Considering what Jensen has riding on the season, Ross Brawn probably could have picked him up for free.
Currently, there is no word on who will fill the other seat. Rubens Barichello had it last year and raced for Brawn at Ferrari. That being said, budgetary restraints would seem to suggest the number 2 driver will be very young, very cheap and given strict instructions to not crash a single car!
Check back for more information on the fate of the Honda Team. The first point of interest after the buyout will be to learn what the name becomes. “Ross Brawn Racing”?
Lemmy