An age of wage restraint?

To ensure that he keeps his drive with the Honda F1 team in 2009, reports suggest that Jenson Button has accepted a £15 million pay-cut (from £24 million per annum to £9 million per annum). Is this the action of a passionate racing driver? Or the action of someone who will still be earning millions? Is Button the first of many, as athletes from across the sporting world accept that a new austerity is emerging in the light of the current economic downturn?