The most prestigious accolade in Formula 1 is the Drivers’ Championship, but the real money is in the Constructors’ title.
Every position counts in F1 because the higher up they finish in the championship order, the more money they will receive from the prize pot. This is why it’s just as important to fight over 6th place as it is for 1st.
Red Bull’s share of the prize money will be significantly lower this year after losing their title, owing largely to a mix of problems with the RB20 and Sergio Perez’s poor performance on track which has cost them millions.
Mercedes will also receive less money since they finished two placed below where they did last year, while McLaren gains the most having won the championship from finishing in fourth in 2023.
How much money has each F1 team earned from prize money in 2024?
The share of prize money distributed is dictated by the Concorde Agreement, the commercial agreement signed by all teams that stipulates the share of revenue.
According to the Concorde Agreement, the team prize pot is 50% of F1’s commercial rights profit. Teams will not always receive 50%, as after a certain point of revenue Formula One Management’s percentage share rises.
| Position | Team | Prize Money |
| 1. | McLaren | £106 million |
| 2. | Ferrari | £99 million |
| 3. | Red Bull | £93 million |
| 4. | Mercedes | £86 million |
| 5. | Aston Martin | £79 million |
| 6. | Alpine | £72 million |
| 7. | Haas | £66 million |
| 8. | RB | £59 million |
| 9. | Williams | £52 million |
| 10. | Sauber | £45 million |
Payments are also not split up equally, as Ferrari receives an extra payment of around 5% for its historical significance because it has competed in every race since 1950. There are also bonuses for past successes such as winning the championship, which means bonus payments could equal 25% leaving the rest for the 10 teams to split.
The figures for 2024 are estimations (via Autosport) based on the revenues for 2023, adjusted from $ to £ and based on team payments of £1.2 billion and a prize pot of £1 billion.
The biggest winners and losers of 2024
McLaren earned around £106 million while Red Bull dropped to £93 million. Mercedes also lost money by finishing fourth, with their total coming in at £86 million rather than £99 million compared to 2023.
Alpine’s jump from 9th to 6th with their podium in Brazil meant they earned an extra £20 million, while Sauber made a loss by finishing last behind Haas this year.
As a result of their Constructors’ victory, McLaren will face an entry fee of £4.8 million for the 2025 season as the first-placed team is charged at a higher rate per point than the other nine teams. They will pay more than Aston Martin, Alpine, Haas, RB, Williams and Sauber combined.
However, having won with a total of 666 points, it is nearly 200 less than Red Bull in 2023 meaning their fee is well below what Red Bull paid (£5.8 million).
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