F1 prize money 2024: How much do teams make? What is the budget cap? Why do Ferrari get legacy payments?
This weekend the F1 season returns in Bahrain as 20 drivers and 10 teams battle it out across 24 races to win individual and team championships. And with the sport making billions each year, teams are getting a great cut of the revenues. The F1 prize pot is reportedly around 45 per cent of the [...]
This weekend the F1 season returns in Bahrain as 20 drivers and 10 teams battle it out across 24 races to win individual and team championships.
And with the sport making billions each year, teams are getting a great cut of the revenues.
The F1 prize pot is reportedly around 45 per cent of the revenue made that year.
Last year Formula One Group revenues totalled $3.2bn (£2.5bn), meaning $1.4bn (£1.1bn) is up for grabs by the 10 teams.
There are payments for legacy teams, such as Ferrari, which is understood to be 5 per cent of the total pot, while teams recent winners and high finishers also receive a bonus.
The above accounts for around a quarter of the total kitty.
The remaining cash is then distributed based on finishing position this season, with reigning champions Red Bull last year reportedly receiving 14 per cent of what’s left.
Based on a $1.4bn prize pot Red Bull – should they retain their team title – will pick up around $147m.
The battle for second between – where the difference can be a matter of points in the table – may see a prize pot difference of just over $10m, with second receiving and third receiving upwards of $120m.
Even the difference between seventh and 10th could be extraordinary in terms of prize money.
Last year the bottom four spots were separated by a huge $20m in prize money.
