Prize money in F1?

Question

Just how much do the teams get as a prize for winning, 2nd, 3rd etc. in a F1 race.

Answer 1

Although the FIA don't award prizes to the drivers/teams for winning races, the FOA award television advertising revenues on the basis of a formula which includes the number of points acheived by the team during a season.



In addition, teams usually award drivers on results as well as basic salary. For example, David Coulthard was awarded $25k a point last season.



At present, excluding bonuses, Kimi Raikkonen is the highest paid driver - source: http://www.forumula1.net/

Answer 2

Circuits have to pay a fee for the rights to stage a race to Bernie Ecclestones company (Formula One Administration) which runs in to millions so most of your ticket price actually goes to them.

At the end of the season every team except the team who are placed last in the Constructors Championship earn money from the FOA and the amount is based on where they finished in the championship with the best placed teams earning the most. It's a bit odd that the richest teams do the best and end up with more money while the smaller teams struggle on a tight budget and end up with not much anyway. The amounts paid to the teams are kept secret but Minardi were promised an £8 million handout a few years ago (even though they finished last) and Ron Dennis(McLaren CEO) went ballistic and ended up getting the cash shared out between the other teams. I think after that carry on the "Superfund" group was set up to help out struggling teams with expenses.

Answer 3

Circuits have to pay a fee for the rights to stage a race to Bernie Ecclestones company (Formula One Administration) which runs in to millions so most of your ticket price actually goes to them.

At the end of the season every team except the team who are placed last in the Constructors Championship earn money from the FOA and the amount is based on where they finished in the championship with the best placed teams earning the most. It's a bit odd that the richest teams do the best and end up with more money while the smaller teams struggle on a tight budget and end up with not much anyway. The amounts paid to the teams are kept secret but Minardi were promised an £8 million handout a few years ago (even though they finished last) and Ron Dennis(McLaren CEO) went ballistic and ended up getting the cash shared out between the other teams. I think after that carry on the "Superfund" group was set up to help out struggling teams with expenses.

Answer 4

There is no prize money in F1, the drivers are paid for the season when they sign the contract with the team.

Answer 5

None.

If the circuit have to pay the Prize, there will be no where that want to have a formula 1 Race.

Answer 6

As above!



Which goes to show you how much the circuits make from your ticket money

Answer 7

their is no prize money it all boils down to sponsers the better you do the bigger price you can charge the sponsers