It’s been revealed that Jenson Button had to agree to a salary cut to remain in Formula One for another two seasons.
Unveiled alongside the returning Fernando Alonso last week, Button was given a last minute reprieve by McLaren after months of indecision.
According to reports, he agreed on a significant pay cut from £12 million a year to less than £8 million, less than 48 hours before the team’s official announcement last Thursday.
Alonso meanwhile, is said to be pocketing a cool £25 million a year, thought to be the highest salary ever in Formula One.
It is believed that the McLaren board favoured retaining Kevin Magnussen, who will now spend a year as the team’s reserve and test driver.
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