Formula 1 racing is one of the wealthiest sport with huge revenue. As F1 generates billions of dollars in terms of revenue. Formula one prize money for 2022 has been revealed.
| Racing Teams | Column 1 | Column 2 | Bonus | 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 | N/A | $73 million |
| Haas | $35 Million | $35 Million | N/A | $70 million |
| Williams | $35 Million | $15 Million | N/A | $60 million |
| Racing Point | $35 Million | $24 Million | N/A | $59 million |
| Sauber | $35 Million | $21 Million | N/A | $56 million |
| Toro Rosso | $35 Million | $17 Million | N/A | $52 million |
The first column in the table represents the equal share of CVC. The second column is all about how the Formula one team finished their season on the points table. Bonuses will be awarded to shareholder teams. Which leaves smaller teams at a massive disadvantage.
Formula one prize distribution & Revenue model
F1 has a very strange revenue model to reward teams the prize money. Their prize money distribution is all based on the CVC system. CVC doesn’t pay anything to F1 drivers. The Formula one driver have contracts with their teams. However, CVC only pays the constructors for their participation in the race.
Have a look at the CVC Revenue model
- 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 23.7 % of the Formula 1 Prize money fund is divided equally among the top 10 teams.
- All the teams get the transportation cost form 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.
- Ferrari gets the extra 2.5% because of their special contact with the formula 1.
- The team that finishes outside the top 10 gets $10 million for participating in the tournament.
Drivers contribution in Formula one teams prize money
Sebastian Vettel is top of the list with almost $511 million. It also includes a racing winning bonus.
| Team Drivers | Total Team Prize Money Won |
| Sebastian Vettel | $511.9 million |
| Lewis Hamilton | $449.6 million |
| Kimi Raikkonen | $386.3 million |
| Nico Hulkenberg | $250.9 million |
| Sergio Perez | $232.2 million |
| Daniel Ricciardo | $231.1 million |
| Valtteri Bottas | $218.3 million |
| Romain Grosjean | $200.9 million |
| Robert Kubica | $154.7 million |
| Max Verstappen | $132.5 million |
| Carlos Sainz | $126.5 million |
| Daniel Kvyat | $71.8 million |
| Kevin Magnussen | $49.9 million |
| Lance Stroll | $33.3 million |
That’s how much a driver earned prize money for its respective team. Lewis Hamilton stands second on the list. He brings a total of $450 million to his team account.
Lance Stroll won the lowest prize money for his team $33.4 million.
How much F1 prize money is hurting smaller teams?
Formula one brought nearly generate $2 billion in revenue, yet unequal revenue situation still threatens the future of small teams. Despite being second on the constructor’s list, Ferrari earned the sum of $21 million more in prize money.
More than half of Ferrari’s total amount came from bonuses ($117 million). Renault despite finishing above Red Bull racing in Constructor point, CVC doesn’t reward them any bonus. Other teams like Haas, Williams, Racing Point, Sauber, and Toro Rosso also received no bonuses of any kind.
This leaves the teams in a financial crises situation. Things are not looking good for smaller teams. This situation can be avoided if CVC introduced a new more equal revenue distribution model.
It will ensure the survival of teams like Sauber, Toro Roco, and Force India. Teams like Williams and Renault will hope to compete against the bigger teams after getting their hands on equal prize money.
FAQs Reagrding F1 2022 money distribution
Q.What is the total prize money of Ferrari?
A. The total prize money of Ferrari is $205 Million.
Q. How much Sebastian Vettel contribute to the team’s prize money?
A. Sebastian Vettel contributed a total of $511.9 million in total team prize money.
Q. How much does Lewis Hamilton contribute to the team’s prize money?
A. Lewis Hamilton contributed a total of $449.6 million in total team prize money.
