Formula 1 Prize money 2021

Formula 1 Prize MoneyThe 2021 FIA Formula One World Championship is one of the biggest motor racing championships in the world. Formula 1 has revealed the calendar for the 2021 season, with 23 Grands Prix on the provisional schedule for next year. The season will start in Australia in mid-March, finish in Abu Dhabi in early December

The cap will be set at $145m (£119m) in 2021, dropping to $140m in 2022, then $135m for 2023–25.

The F1 distributes their profit to all the teams but the driver doesn’t get any. The drivers are paid with salaries by the team. The Formula 1 revenue is divided into two categories (50% each) and one half goes to Formula 1 teams (prize money fund) and the other half goes to the formula 1 group and shareholders. F1 doesn’t reveal what amount is gotten by each group.

The Teams of Formula 1 decide how much they will pay to their riders. Usually, the drivers who wins the most get more money through bonuses on their salary. CVC does not pay anything to the drivers. The formula 1 driver are paid by their respective teams.

Wining points requirement:

  • 1st: 25
  • 2nd: 18
  • 3rd: 15
  • 4th: 12
  • 5th: 10
  • 6th: 8
  • 7th: 6
  • 8th: 4
  • 9th: 2
  • 10th: 1

The fastest lap of the race record holder driver gets one point bonus. To get a hold of the bonus they have to be on the top 10 list.

Prize money facts :

  • The top ten teams receive the column one and column two payments.
  • F1 share column one payments equally among the top 10 teams in the last three years.
  • F1 share column two payments through the top 10 teams depending on how they finish in the current constructors’ championship.
  • Teams who finish outside the top ten get a column three payment which is around $10 million just for being part of Formula 1.
  • All 11 teams earn transportation costs.
  • Ferrari gets the extra 2.5% because of their special contact with the formula 1.
  • The 23.7% of the prize money fund goes to the constructors on the basis of how they finish in the constructor’s points table at the end of the season.

Some Formula 1 teams receive extra bonus money depending on their previous season performance and popularity. here’s a list :

Racing Teams Column 1 Column 2 Bonus & Others Total
Ferrari $35 Million $56 Million $114 million $205 Million
Mercedes $35 Million $66 Million $76 million $177 million
McLaren $35 Million $46 Million $71 million $152 million
Red Bull Racing $35 Million $32 Million $33 million $100 million
Renault $35 Million $38 Million $73 million
Haas $35 Million $35 Million $70 million
Williams $35 Million $15 Million $60 million
Racing Point $35 Million $24 Million $59 million
Sauber $35 Million $21 Million $56 million
Toro Rosso $35 Million $17 Million $52 million

Column 1 is a list of fixed merit share for the top 10 teams. They all get the same amount of money.

Column 2 is about the points. The teams are is awarded based on where teams finish in the WCC standings. So the points are important. The prize money paid to all F1 teams according to their driver’s position on the Formula 1 table and constructors position. Bonus prize are not set for all teams. Only a few teams gets the bonus.

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