The 2021 FIA Formula One World Championship is one of the biggest motor racing championships in the world. The F1 stands for Formula One cars and the world championship is the 72nd event of the Formula One World Championship.
It is validated by the governing body of international motorsport, the Fédération Internationale de l’Automobile (FIA), as the highest class of competition for open-wheel racing cars.
Drivers and teams are competing in twenty-one Grands Prix for the World Drivers’ and World Constructors’ championship titles. Here we take a look at the Formula 1 Prize Money 2021.
F1 prize money 2021: So how much Formula 1 Prize money is there in the Constructors Championship?
Well, Ferrari will be earning the largest amount of the Formula 1 revenue share. F1 follows a strange revenue share model and we take an in-depth look at how much money there is.
F1’s 2021 revenues are estimated at $1.38bn which is shared among teams and other shareholders. That is a huge amount of money! It is one of the highest-earning sports competitions in the world.
There is huge money in Formula 1 and some estimates suggest it generates up to a billion dollars of revenue. So where does it go? The CVC (parent company of Formula 1 group) is responsible for distributing the prize money. Revenue from one race can range between $100 million to $140 million. Meanwhile, Formula 1 revenue is growing every year. In fact, in 2014 total revenue was around $1.8 billion.
Formula 1 prize money 2021: How does F1 distribute their prize money per race and per constructors?
How much money do constructors get in F1? The F1 distributes total profit to all the teams. However, drivers don’t receive any prize money because Formula 1 drivers are paid salaries by the teams they drive for. So is the money distributed evenly throughout the teams? Well no, is the simple answer.
The Formula 1 revenue is divided into two categories (50% each) and one half goes to Formula 1 teams (prize money fund) and the other half goes to formula 1 group and shareholders.