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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.
Kimberley Grand Prix Data Book: Formula 1 Racing Facts and Figures 1950 to Date. Sparkford, England: Haynes Publishing. ISBN 0-946132-63-1 – via Open Library. Hughes, Mark; Tremayne, David (2002). The Concise Encyclopedia of Formula 1. Bath, England: Parragon. ISBN 0-75258-766-8 – via Open Library. Jones, Bruce (2015).
In 1991, the points system was again revised to give the victor 10 points, with all other scorers recording the same 6–4–3–2–1 result. In 2003, the FIA further revised the scoring system to apportion points to the first eight classified finishers (a classified finisher must complete 90% of race distance) on a 10–8–6–5–4–3–2 ...
The World Constructors' Championship is presented by the FIA to the most successful F1 constructor over the course of the season through a points system based on individual Grand Prix results. Constructors' Championship points are calculated by adding points scored in each race by any driver for that constructor. [ 4 ]
In 2015, Porsche says it pays "more than 730,000 Euros in prize money to drivers and teams. In addition, the overall winner receives a special prize. The winner of the rookie classification receives an additional prize of 30,000 Euros providing he/she reregisters for the following year’s Porsche Mobil 1 Supercup."
Formula One, abbreviated to F1, is the highest class of open-wheel racing defined by the Fédération Internationale de l'Automobile (FIA), motorsport's world governing body. [1] The formula in the name alludes to a series of rules established by the FIA to which all participants and vehicles are required to conform.