Renault confirms pay cut for top earner Ricciardo

Renault F1 boss Cyril Abiteboul has confirmed that Daniel Ricciardo will lose a slice of his hefty retainer this season as a result of the coronavirus crisis and its impact on F1.

Ricciardo's two-year deal with the French outfit initially called for a $55m pay-out, an amount that was disclosed last year following a legal dispute between the Australian driver and his former manager.

An abbreviated campaign and the sport's economic downturn amid the COVID-19 pandemic means the 30-year-old will likely see a rebate of at least 20 percent on his basic $27.5m annual salary.

• Renault follows rivals with staff furlough at Enstone

"It’s a discussion we’ve already had," said Abiteboul in an interview with French daily L'Equipe.

"Daniel has already confirmed he is willing [to accept a pay cut]. I can confirm to you that he will reduce it."

Renault's sub-par 2020 season has led to speculation that Ricciardo could be seeking greener pastures for next year, with Ferrari seen as a potential destination for the Aussie.

However, F1's disrupted season could also potentially disturb or confuse upcoming contract negotiations between teams and drivers.

"We may have to make decisions without the season starting," said Abiteboul.

But the Renault F1 boss says his team will rely on its contingency plans if Ricciardo departs the French outfit at the end of the year.

"That's why we are having discussions and have a driver academy," he said.

Last week, Renault became the fourth team after McLaren, Racing Point and Williams to announce a temporary furlough of its staff at Enstone, while its personnel at its engine factory in Viry-Châtillon has been put on a part-time schedule since April 6 for a provisional period of 12 weeks.

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