V8's hit with a Salary Cap

[ozrevhead]

Originally Posted by foxsports.com.au

V8 Supercar teams will be liable for sanctions of up to $1 million for breaches of a salary cap to be introduced next year.

Two-car teams will have a total of $6.75million to spend under the Total Racing Expenditure Cap introduced to make the series more competitive.
The difference between corporate-backed teams and the independent outfits will narrow further when the cap is reduced in 2008.

The operating fund will cover everything from driver salaries to the cost of running a racing operation, but it will not apply to spending on promotion and marketing.

Fines for exceeding the limit can range from $1million to starting from the back of the grid for an entire season or starting an endurance race two laps down on the field.

The cap was designed by the Touring Car Entrants Group (TEGA) commission that includes former AFL boss Ross Oakley and former Federal Opposition leader John Hewson. The group was formed after approaches from several Supercar teams worried about the continuing viability in an environment of spiraling costs.

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