How much prize money has each team won for their finishing position in the 2023 Formula 1 constructors’ championship?
Red Bull’s Dominance and Financial Rewards
The 2023 F1 season was marked by Max Verstappen and Red Bull’s dominance, with Verstappen securing a third drivers’ world title by winning a record-breaking 19 of 22 grands prix. Red Bull clinched both championships with six races to spare. However, the remaining positions were fiercely contested, with several teams vying for millions of dollars at the season finale in Abu Dhabi, impacting their 2024 prospects.
Intense Battles for Championship Positions
Mercedes and Ferrari fought closely for second place, Aston Martin aimed to reclaim fourth from McLaren, and Williams, AlphaTauri, Alfa Romeo, and Haas competed over the bottom four positions. Alpine was the only constructor to secure their position before Abu Dhabi, sitting comfortably in sixth, 153 points behind Aston Martin and 92 ahead of Williams.
Estimating F1 Prize Money Distribution
Although F1’s exact prize money split remains confidential, public information allows for reasonably accurate estimates. According to the Concorde Agreement, the team prize pool constitutes 50% of F1’s commercial rights profit. However, Formula One Management’s share increases after a certain revenue point. For example, in 2022, the prize pot was $1.157 billion from $2.57 billion in revenue, equating to roughly 45%.
Special Payments and Bonus Structures
Payments are not distributed equally. Ferrari receives an extra payment, around 5% of the prize pot, for its historical significance, having competed in every F1 season since 1950. Other teams receive bonuses for past successes, with estimated bonus payments accounting for around 25% of the pot. The remaining funds are divided among the 10 teams. F1’s projected earnings increase by up to 10%, estimating team payments around $1.25-1.3 billion, with the following figures based on a $1 billion prize pot.
Red Bull’s Estimated Prize Money
1st place in F1 Constructors’ Championship – $140 million estimate
Red Bull is expected to earn about $140 million for winning the 2023 constructors’ championship. Their dominance was evident from the season’s opening race, with a record-breaking 21 wins out of 22. Despite this success, Red Bull’s future dominance is uncertain due to a 10% reduction in wind tunnel testing for 2023 and a $7 million fine for breaching the 2021 cost cap rules.
Mercedes’ Financial Outcome
2nd place in F1 Constructors’ Championship – $131 million estimate
Mercedes secured an estimated $131 million by finishing second. Their battle with Ferrari was tight, with only three points separating them. Mercedes’ greater reliability made the difference, a crucial factor for their future title-winning ambitions given the financial stakes.
Ferrari’s Earnings and Challenges
3rd place in F1 Constructors’ Championship – $122 million estimate
Ferrari, the only other team to win a grand prix in 2023, will receive an estimated $122 million. Despite Carlos Sainz’s victory in Singapore, Ferrari was edged out by Mercedes for second. Mechanical issues plagued them, notably affecting Charles Leclerc and Sainz in Brazil and Qatar, respectively.
McLaren’s Remarkable Turnaround
4th place in F1 Constructors’ Championship – $113 million estimate
McLaren’s impressive comeback in 2023 earns them $113 million. Starting as a backmarker with zero points in the first two races, mid-season upgrades transformed their performance, leading to nine podiums and a sprint race victory for Oscar Piastri.
Aston Martin’s Historic Season
5th place in F1 Constructors’ Championship – $104 million estimate
Aston Martin will receive $104 million, their largest prize money haul to date. They began the year with six podiums in eight races but were eventually overtaken by Ferrari and McLaren after upgrades.
Alpine’s Middle-of-the-Road Finish
6th place in F1 Constructors’ Championship – $95 million estimate
Alpine will earn an estimated $95 million for finishing sixth, their lowest position since rebranding from Renault. Despite this, both drivers managed podium finishes, a positive highlight of their season.
Williams’ Financial Boost
7th place in F1 Constructors’ Championship – $87 million estimate
Williams will get $87 million, marking a significant improvement. Finishing last in four of the previous five seasons, they scored their highest points tally since 2017. This financial boost is crucial for the team, given their independent status and smaller budget.
AlphaTauri’s Turbulent Year
8th place in F1 Constructors’ Championship – $78 million estimate
AlphaTauri will receive an estimated $78 million after a turbulent year with four different drivers. A strong second half lifted them to eighth, but they fell short of overtaking Williams for an additional $9 million.
Alfa Romeo’s Decline
9th place in F1 Constructors’ Championship – $69 million estimate
Alfa Romeo will earn around $69 million for ninth place, their lowest finish since 2021. The funds will support the Sauber-run team as they return to their original name after the end of the Alfa Romeo sponsorship.
Haas’ Disappointing Season
10th place in F1 Constructors’ Championship – $60 million estimate
Haas will receive an estimated $60 million, 6% of the pot, after a challenging season. With points in only four races and a sprint, their financial struggles are compounded, given their limited budget compared to competitors.
