Flavio Briatore has taken at pay-cut at Renault as part of a cost-cutting measure for the Formula One team.
The Queens Park Rangers co-owner has seen his salary with the Formula One team cut by a fifth in response to the credit crunch he revealed to Reuters today (Friday).
He said: ‘We are cutting the costs in the entire team, not just my salary,’ Briatore told a news conference after practice at the Bahrain Grand Prix.
‘The top people, myself and (technical director) Bob Bell and (engineering head) Pat Symonds have a cut of about 20 percent,
‘The second level (of staff) have cut 10 percent and everybody else has a cut of five percent.’