Grapevine: Hakkinen & Dennis Disagree over 2002 Salary

Mika Hakkinen and McLaren have yet to sign a deal for the 2002 season, and the two sides are believed to disagree on the financial terms of the new contract.

Hakkinen, whose contract with McLaren ends this year, has already stated that he wishes to continue driving with McLaren, for the 10th season in a row. However, according to latest reports, McLaren team chief Ron Dennis is refusing to pay Hakkinen the same salary as he is receiving now, certainly not more.

F1 Magazine reports in its latest edition that Hakkinen's manager Keke Rosberg demands his client receives at least the same salary as now - $10 million a year. However, according to the magazine Dennis wants to pay the Finn only $3 million a year, plus a $1 million bonus for every race win. Considering McLaren's current state, there is little chance if any that the Finn would win seven races at least next year, therefore the offer significantly reduces his worth.

However, albeit the financial disagreements, paddock pundits believe Hakkinen and McLaren will reach an agreement eventually, if only because time is running out for both sides to find a better alternative.

Incidentally, Dennis has already once made a similar offer of cutting significantly a driver's salary, when he negotiated with Niki Lauda a new contract for the 1986 season. Back then, Dennis offered Lauda two thirds of his previous salary, after the Austrian won the 1985 World Championship but then faltered during the 1985 season - much like Hakkinen today. Back then, however, Lauda turned down the offer and eventually retired from Formula One racing.