F1 teams earn payment totaling in 2024

The recent release of Liberty Media’s fourth-quarter and 2024 EOY earnings report revealed that Formula 1 had a breakthrough year, generating a remarkable $3.4 billion in revenue. This represented a significant increase of $189 million compared to the previous year. The operational income (EBIT) soared to $2.07 billion, indicating a growth of $169 million, and declared income surged to $492 million, marking a $100 million rise from 2023.

These figures provide insight into the distribution of prize money among the ten F1 teams in 2024. The teams’ share of the pot is directly linked to a percentage of the competition’s total income. In total, an impressive $1.077 billion was allocated to the ten constructors based on their standings in the 2023 constructors’ championship.

Moreover, certain iconic teams, including Scuderia Ferrari, receive annual bonuses from F1. This year, Ferrari is set to receive a bonus of $65.6 million. There is also a performance pool allocated to teams that have previously won a constructors’ championship, enabling them to earn additional revenue. With this information, it becomes possible to calculate the exact sums that each team received in 2024.

Breaking down the financial figures further, it is evident that Ferrari emerged at the top, receiving the highest amount from Liberty Media in 2024. The distribution of earnings among the top teams was as follows: Ferrari received $222.6 million, Mercedes secured $188.6 million, and Red Bull Racing obtained $182.4 million, putting them in a close competitive position in terms of financial rewards for their performances in the 2023 season.

For the other teams in the mix, McLaren earned $128.4 million, Aston Martin received $112.5 million, Alpine garnered $107.7 million, Williams secured $101.3 million, with VCARB, Sauber, and Haas bringing in $83.8 million, $74.2 million, and $64.6 million, respectively.

These financial distributions highlight the lucrative nature of F1 and how a team’s performance and legacy can directly impact its earnings. The bonuses and performance incentives provided by F1 serve as additional rewards for teams that have excelled in the competition. Going forward into the next seasons, these financial considerations will continue to play a significant role in driving motivation, competition, and success within the realm of Formula 1.