Formula One’s $1 billion prize fund: this is the total amount of money each team will receive.

While the precise details of Formula 1‘s prize pot remain undisclosed, estimations can be made based on financial records. Approximately half of F1’s profits are allocated to the teams, with the Constructors’ champions receiving the largest share. The distribution of funds has become more equitable since Liberty Media’s involvement in 2017, as outlined in the current Concorde Agreement.

This discussion focuses solely on prize money, excluding other potential bonuses. For instance, Ferrari is rumored to receive an additional bonus, around 5% of the prize pool, totaling approximately $50 million annually due to its longstanding presence in F1 since its inception.

Teams with recent success also earn extra bonuses. Under previous arrangements, champions received roughly 20% of the prize pool, while the 10th-place team received 6%. In the current structure, champions receive about 14%, and the 10th-place team still gets 6%.

Though exact payouts remain undisclosed, estimates for this year’s prize money can be derived from interviews and analyses. After factoring in all bonuses, there is approximately one billion dollars in prize money available for distribution among the teams.

Red Bull emerges as the team with the highest remaining prize money for the season, securing around $140 million due to Max Verstappen’s individual efforts in clinching the title. Conversely, Haas, finishing in tenth place, collects a modest $60 million. The remaining $800 million is distributed among the teams accordingly.

See the summary of the Formula One prize money for 2023 below.