F1 2023 prize money distribution breakdown for teams and drivers per position

F1 2023 prize money distribution breakdown for teams and drivers per position

Following the successful end of the 2023 Formula One F1 Constructors’ Championship, check out the full prize money breakdown and team earnings below

Max Verstappen and Red Bull dominated the F1 2023 season as the Dutchman secure a third drivers’ world title with a record-breaking 19 wins out of 22 grand prix.

F1 2023 prize money distribution breakdown for teams and drivers per position list

Verstappen and Red Bull won both the 2023 championships, with six grand prix to spare.

F1 Constructors’ Championship 2023 prize money breakdown

Although the exact details and amounts of the F1 prize money split are unknown, there is some publicly available information about it. According to the Concorde Agreement, the team prize pot should be 50% of F1’s commercial rights profit. However, as seen in previous seasons, teams usually do not always get 50% of the season revenue. This is because after a certain point of revenue, Formula One Management’s percentage share increases.

Back in 2022, F1 generated revenues of $2.57 billion, while the total prize pot was around $1.157 billion, which means it was roughly around 45%. Moreover, the payments were also not shared equally, as Ferrari received an extra payment worth 5% of the prize pot. Moreover, other bonus payments account for around 25% of the prize pot, leaving the rest of the amount for the 10 teams to split.

Based on the estimate that F1 will see a 10% rise in earnings, team payments will total around $1.25–1.3 billion. As such, given below are the estimated team earnings of the F1 Constructors’ Championship 2023 based on a $1 billion prize pot.

1st place in F1 Constructors’ Championship 2023

Estimated earnings: $140 million

Red Bull earned an estimated $140 million, or 14% of the pot, for winning the 2023 constructors’ championship. From the very beginning, Red Bull dominated the competition and won 21 of the 22 Grand Prix races. Unsurprisingly, they recorded the highest win percentage of any team in an entire season. However, Red Bull breached the cost cap rules back in 2021. As such, the team received a 10% reduction on wind tunnel testing for 2023, along with a $7 million fine.

2nd place in F1 Constructors’ Championship 2023

Estimated earnings: $131 million

Mercedes earned an estimated $131 million of the prize pot for finishing in second place during the 2023 constructors’ championship. Mercedes secured the spot after narrowly beating out Ferrari by three points.

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3rd place in the F1 Constructors’ Championship 2023

Estimated earnings: $122 million

Ferrari was the only team to secure a Grand Prix win during the 2023 season besides Red Bull. Ferrari driver Carlos Sainz, won the race in Singapore, but the team narrowly missed out on second place to Mercedes. The Scuderia faced a few hiccups along the way, which could have altered the final result if things had gone their way. During the Brazilian GP, Charles Leclerc failed to start due to a hydraulics fault, while Sainz couldn’t start the Qatar GP because of a fuel leak. Ferrari earned an estimated $122 million in prize money.

4th place in the F1 Constructors’ Championship 2023

Estimated earnings: $113 million

McLaren made a remarkable resurgence in the 2023 season and earned an estimated $113 million in prize money. The British outfit finished in fourth despite starting the 2023 season as a backmarker, scoring zero points in the opening two grand prix. However, their mid-season upgrades proved well in their favour as they drastically changed the course of their campaign. By the end of the season, McLaren had scored nine podiums, including a sprint race victory for Oscar Piastri in Qatar.

5th place in the F1 Constructors’ Championship 2023

Estimated earnings: $104 million

Aston Martin received a whopping $104 million, their biggest prize money haul yet, for finishing the championship in fifth place. Prior to the start of the season, Aston Martin failed to finish above seventh in the standings ever since making the change from Racing Point in 2021.

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6th place in the F1 Constructors’ Championship 2023

Estimated earnings: $95 million

Alpine received estimated earnings of $95 million for securing a comfortable sixth-place finish in the 2023 season. Sadly, this is their lowest finishing position ever since the rebranding of Renault for 2021. They had earlier finished fifth in 2021 and fourth in 2022. Despite the setback, both drivers managed to stand on the podium this season, something the team failed to do last year.

7th place in the F1 Constructors’ Championship 2023

Estimated earnings: $87 million

Williams received an estimated $87 million of the prize pot after finishing seventh in the championship. Across the last five seasons, the British outfit finished last in four of them.  Notably, Williams is an independent team with no big-name manufacturer behind its operation; as such, the money they win from the prize money will mean much more to them than to other constructors.

8th place in in F1 Constructors’ Championship 2023

Estimated earnings: $78 million

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AlphaTauri had a rough year in the 2023 season, featuring four different drivers competing for them at various points. However, a strong second half helped the team secure an eighth-place finish and receive an estimated $78 million. They came close to overtaking Williams in Abu Dhabi, but Yuki Tsunoda’s eighth-place finish came short of overturning AlphaTauri’s seven-point deficit.

9th place in the F1 Constructors’ Championship 2023

Estimated earnings: $69 million

Alfa Romeo finished in ninth place and received around $69 million in prize money. However, with plans to rebrand the name to its old name for the 2024 season, the money will go towards the Sauber-run team.

10th place in the F1 Constructors’ Championship 2023

Estimated earnings: $60 million

American outfit Haas scored 25 points less than the 2022 season and finished dead last in 10th place. The team managed to grab points in just four Grand Prix and a sprint race. As such, Haas earned an estimated $60 million of the prize money, or about 6% of the pot. Haas are in trouble ahead of the new season as they already have a very restricted financial standing.

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