Many are aware of the fact that there is a lot of money in Formula One. According to reports, Formula One generated more than $2 billion revenue in 2016. But do you know how much money Formula 1 teams gets? Or How much F1 winner and the Constructors’ Championship earns? Here we will try to answers all these questions with Formula 1 Prize money 2017 distribution table.
Formula 1 is all about the time and the speed. It’s the simple equation the driver that drives faster will win the race. But, sometimes drivers try an extra effort in order to achieve the extra speed that causes the accidents. There have been many accidents in the past. This means that this sport is little risky and one need to put his complete focus in the game.
As everyone knows, with great risk comes the great money. Such is the case with the F1 races also. There are large chunks of money that the people throw at these races simply to watch the speed and the excitement of the races. The large money offered is also the prime reason that motivates the drivers to go for the win every time they step on the circuit.
Formula 1 races are managed by CVC, which is the parent company of the Formula 1. It has a massive profit distribution model as each race could generate the revenue of more than $120 million. It clearly indicates the increasing profit with these races. In the year 2016 itself, the estimated profit was more than $2 billion. This year the number is going to increase further.
Formula 1 Prize Money 2017 Distribution
The profit is distributed among the teams through the Formula 1 Prize money fund. But, the most important thing that one should know is that CVC does not pay anything to the drivers. The formula 1 drivers are paid by their respective teams. CVC only pays the constructors for their participation in the race and the contractor then pays the drives. Note: Formula 1 drivers do not get any prize money because F1 drivers’ salaries and bonuses are paid by their respective teams.
- The 50% of the total money that the CVC earns goes to the prize money fund. This money is used to distribute among the constructors.
- The remaining 50% of the money goes to the formula 1 group and shareholders.
- The prize money fund is then divided into several parts.
- The 23.7 % of the Formula 1 Prize money fund is divided equally among the top 10 teams.
- 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.
- The team that finishes outside the top 10 gets $10 million for participating in the tournament.
- All the teams get the transportation cost form the Formula 1.
- Ferrari gets the extra 2.5% because of their special contact with the formula 1.
Here is a look at what each Formula 1 team earned for the 2016 season as per Autosport.
2016 Formula 1 Team Payouts
|Team||Performance||Bonus||Total||2015 Constructors’ Standings|
|Ferrari||$87 million||$105 million||$192 million||2|
|Mercedes||$97 million||$74 million||$171 million||1|
|Red Bull||$70 million||$74 million||$144 million||4|
|Williams||$77 million||$10 million||$87 million||3|
|McLaren||$50 million||$32 million||$82 million||9|
|Force India||$67 million||–||$67 million||5|
|Renault (Lotus)||$64 million||–||$64 million||6|
|Toro Rosso||$57 million||–||$57 million||7|
|Sauber||$54 million||–||$54 million||8|
|Manor||$47 million||–||$47 million||10|
Formula 1 is all about the speed and here every second counts. This is the one thing that the people love and come in large number to see the races. The drivers put everything on the line to get past the others. The constructors try their best to prepare the best vehicle for the race that could guide them-them to victory.