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Formula 1's huge prize pot centres around the Constructors' Championship, with the pot made up from 50 per cent of F1's commercial rights revenue for each season, reports Sky Sports.
The Concorde Agreement is a contract between the Fédération Internationale de l'Automobile (FIA), the Formula One teams and the Formula One Group which dictates the terms by which the teams compete in races, and how the television revenues and prize money is shared. There have been eight versions of the Concorde Agreement, all of which terms ...
Formula One teams pay entry fees of $500,000, plus $5,000 per point scored the previous year or $6,000 per point for the winner of the Constructors' Championship. Formula One drivers pay a FIA Super Licence fee, which in 2013 was €10,000 plus €1,000 per point. [223] There have been controversies with the way profits are shared among the teams.
Formula One, abbreviated to F1, is the highest class of open-wheeled auto racing defined by the Fédération Internationale de l'Automobile (FIA), motorsport's world governing body. [1] The "formula" in the name refers to a set of rules to which all participants and cars must conform. [ 2 ]
A Formula One Grand Prix is an auto racing event which takes place over three days (usually Friday to Sunday), with a series of practice and qualifying sessions prior to the race on Sunday. Current regulations provide for two free practice sessions on Friday, a morning practice session and an afternoon qualifying session held on Saturday, and ...
The 2013 FIA Formula One World Championship was the 67th season of FIA Formula One motor racing. It featured the 64th FIA Formula One World Championship, a motor racing series for Formula One cars, recognised by the Fédération Internationale de l'Automobile (FIA) – the governing body of motorsport – as the highest class of competition for open-wheel racing cars.
The two-time defending F1 champion is at -135 to win the first race of the 2023 season.
In June, Formula One launched the We Race As One initiative to fight racism, global inequity and the impact of COVID-19. The initiative used a rainbow logo, with the colours of all ten Formula One teams, also with the #WeRaceAsOne hashtag, and featured prominent We Race As One branding on vehicles (including the safety car) and signage on track ...