P1racenews AI automatic summary:
With Red Bull taking all the spoils after becoming F1 Constructors’ World Champions in 2023, RacingNews365 analysis F1’s million dollar prize pot.
The prize pot in Formula 1 is estimated based on financial records, with half of the profits being distributed to the teams, primarily based on their ranking. Since 2017, under Liberty Media, the payouts have increased and are distributed more fairly. Ferrari reportedly receives an extra bonus of about 5% of the prize pool due to their long-standing presence in F1, translating to around $50 million per year. Successful teams in recent years also receive additional bonuses. Previously, champions received about 20% of the prize pool, while 10th place received 6%. Currently, champions receive around 14%, with 10th place remaining at 6%. After factoring in bonuses, approximately one billion dollars in prize money is distributed to the teams, with Red Bull receiving the most, around $140 million, and Haas receiving $60 million for finishing tenth. The remaining $800 million is split among the other teams.
