Williams pocketed $10 million USD as a ‘heritage payment’ and Red Bull received $36 million USD because they were the first team to sign the latest Concord Agreement. Though this is not the only payment that seems a bit odd…Ī ‘Constructors Championship Bonus’ of $35 million USD was paid out to each of McLaren, Red Bull, Mercedes and Ferrari for their past performances in the championship. For winning the championship in 2021 Mercedes received $61 million USD, while in last place, Williams received just $13 million USD.Īs a long standing team, Ferrari received an additional $68 million USD simply for being Ferrari, and they are the only team to receive this payment. Then there are payouts for where teams finish in the Constructors Championship. Payments from Formula 1 are the second most lucrative way F1 teams make money.Įvery team is paid approximately $36 million USD prize money for being in the championship, which comes from revenue sources such as TV rights and circuit sponsorship. The recent Oracle – Red Bull Racing sponsorship is in the vicinity of $300M for 5 years. For example, Mercedes received almost 20% of all TV coverage during the 2021 F1 season, which is something they can factor in when setting their rates.Ĭognizant are rumoured to have paid €35M for their Cognizant-Aston Martin deal, while Petronas tip in €42M for their Petronas-Mercedes partnership. Title sponsorship ranges from €20-50M a year, and is often dependent on the strength and pedigree of the team. The more successful the team, the more sponsorship revenue they can ask for, but to be successful, they need to be able to pay to play at the pointy end of the grid.Ī company looking to get involved in sponsoring a team in F1 can do so for as little as €500k per year, however, they would have no branding on the car or driver.Ī cool €1M a year could get your company’s sticker on one of the midfield cars, while it would cost €3-5M a year to get your logo on a Ferrari, Mercedes, or Red Bull. How much F1 sponsors contribute can vary from as little as €500k to as much as €50M a season in what is a bit of a catch-22 season. Then some F1 team budgets are supplemented by payments from manufacturers, or what’s known as a ‘pay driver’ such as Lance Stroll of Nicholas Latifi. Second to that is through winnings and incentives paid by Formula 1 directly. The most lucrative way for F1 teams to make money is through sponsorships. So with all those expenses to factor in, how do F1 teams make money? How do F1 teams make money?į1 team budgets are derived from several key areas: In 2021 the F1 calendar had 22 races, and that increased to 23 races in 2022. Then you need to factor in the costs of research and development, plus the logistics of getting to every race. With F1 being the pinnacle of motorsport, it attracts the best drivers, administrators and engineers that money can buy. Kevin Magnussen (Denmark) - Haas Kevin Magnussen's father, Jan, drove in F1 during the mid-1990s - Kevin already has bragging rights, though, with a 2nd place in 2014.Given budgets in 2021 were around the $450 million mark for the top dogs, you could be forgiven for wondering where all that money went. Romain Grosjean (France) - Haas Romain Grosjean only managed three points finishes in 2019 and failed to finish seven times Date of birth: 17/4/86 Sebastian Vettel (Germany) - Ferrari Sebastian Vettel is looking for his fifth drivers' title but only managed fifth place last season, nearly 200 points behind winner Lewis Hamilton Date of birth: 3/7/87 Pierre Gasly (France) - Alpha Tauri Pierre Gasly was dropped by Red Bull in favour of Alexander Albon halfway through the 2019 season Date of birth: 7/2/96ĭaniil Kvyat (Russia) - Alpha Tauri Daniil Kvyat was demoted by Red Bull in 2016 and then dropped by Toro Rosso in 2017, before his unlikely return in 2019 Date of birth: 26/4/94Ĭharles Leclerc (Monaco) - Ferrari Charles Leclerc was promoted to Ferrari last season, and cemented his reputation as a rising star with two wins in 2019 Date of birth: 16/10/97 Kimi Raikkonen (Finland) - Alfa Romeo Kimi Raikkonen is famed for coming across as indifferent about his performances, but he must be doing something right, as this is his 18th season at motorsport's top table Date of birth: 17/10/79 Antonio Giovinazzi (Italy) - Alfa Romeo Antonio Giovinazzi, who had only taken part in two grands prix prior to 2019, secured his first three points finishes last season Date of birth: 14/12/93 Who are the drivers for 2020? (All statistics correct as of the start of the 2020 season).
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