24/03/2009
NEWS STORY
Renault boss Flavio Briatore has revealed that drivers Fernando Alonso and Nelson Piquet have both agreed to take pay cuts as part of the French team's cost-cutting programme.
"I told them that it would be appropriate to lower their salaries," Briatore Italian magazine Chi. "They understood and we reached an agreement.
"Formula one is in the midst of the crisis and we will try to adapt in a way that we can face this situation, reducing our costs," he added.
It is believed that Alonso's pay cut could be worth as much as £6m.
It is unclear whether Briatore has also accepted a pay cut.