Have a look at how much the F2 drivers earn, breaking down the salary for the F2 drivers in 2023
Yet, we do know that the wildly popular Netflix series “Drive to Survive” significantly raised awareness of and interest in motorsports, notably Formula racing.
Due to the current increase in popularity, even leagues like Formula 2 and Formula 3 have, become more lucrative with less investment risk.
The objective of Formula 2 is still to support the growth and experience-gaining of aspiring professional motorsport athletes.
How much do the F2 drivers make in 2023 and what is their salary per day explained
Racing is an expensive sport if there is one thing about it that is definite. The price of the racing cars can range from roughly $650,000 to more than $1 million, at least in Formula 2.
When you include in the price of travel, vehicle upkeep, and other expenses, your hobby ends up being quite expensive.
Given how much money is being invested in various racing leagues, some have questioned how much drivers are paid.
Given how much money is being invested in various racing leagues, some have questioned how much drivers are paid. There have been various reports regarding how much F2 drivers actually make because the structure of racing can be complicated in general.
In the world of racing, Formula 1 is the top-tier premier league. There, your best and most marketable racers will compete. No formula racing league offers purses at the end of each race, therefore finishing in a particular position does not ensure financial reward.
By their contracts, some racers may be entitled to bonuses for victories, but F2 is less likely to experience this. The majority of the time, sponsors are the best source of compensation for racers.
The pay of F2 drivers is broken out in the table below.
What is the Pay Structure for an F2 Driver?
Drivers in Formula 2 are anticipated to make between $225 and $500 per day. A sizeable portion of the F2 profits is used to buy the team’s cars and other moving parts.
A racing team needs expensive upkeep. You need to pay your entire team and crew, have trucks that can transport cars, have the technology prepared for race day, and pay a variety of other expenses in addition to funding the car.
The overall cost of maintaining a Formula 2 team may be quite high with very little return on investment. It may sound astonishing that the finest Formula 1 driver might make up to $55 million annually, but it all relies on the leagues’ broader goals.
Instead of racing to make a lot of money, the majority of these drivers strive to win and exceed their opponents. For all aspiring Formula 1 racer, Formula 2 will remain an essential step despite the low pay grade.
Do Formula 2 drivers have to pay for a seat to compete?
The Formula 2 young drivers must pay a fee of between $1.5 million and $2 million to compete.
Although team owners frequently pay for this fee, drivers are still responsible for additional expenses including travel and health insurance. If the car crashes during a race, the driver may also be liable for some repairs, though this is rare.
How do F2 teams make money?
Any money earned in F2 will be given to the owner. Since the team’s owner provides all of the funding, a sizable amount of the F2 earnings is put back into the business.
A team’s primary sources of income are sponsorships and promotions.
Although it is difficult to predict exactly how much money each team will make from Formula 2, the sport is nevertheless reasonably profitable for its owners.
By charging drivers fees and selling vehicles and equipment, Formula 2 made just $21 million in income during the 2018 season, according to Forbes.