It was Alonso that replaced Räikkönen after the 2009 F1 season. Spanish bank Santander (Alonso’s stout backer) agreed to pay Räikkönen’s full yearly salary to make way for Alonso to join Ferrari in a three-year deal.Santander have yet to see their investment pay off as the 2010 and 2011 seasons have not produced the result they so badly crave. The 2012 season is Santander’s last chance to demonstrate shareholders some sanity in the Ferrari/Alonso move.
When deals like this are made by the largest bank of one of the most in-debt countries in Europe, it is no surprise a pan-European financial bailout is needed for the entire country of Spain. If I was one of the many unemployed in Spain I would be quite disgusted that my bank would spend $26,3m to get rid of a driver in an F1 team. Spain has an official unemployment rate of around 20%, but the official rate is much higher than this, probably close to 30% or 40%.
In 2010 Ferrari (Santander) paid $26,3m to Räikkönen to give the seat to Alonso, plus $22,7m for Alonso’s yearly salary. That’s $49m for a single seat in Ferrari for 2010 – that’s just nuts.
Source: aussiepunter.com
Courtesy: Boudica
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