It's no secret F1 teams need a lot of money to function. All that absurdly detailed logistical planning takes funding to work, after all. Then there's car development, replacement parts, and of course, driver salaries. But where does that money actually come from? Thanks to this explainer, we now know.
put together a short video showing us how F1 teams make their money throughout the season. It turns out there's a lot more to it than just prize money for coming in first.
Starting off, every team that's been classified for the past two seasons receives $36 million—every team except for Haas qualified this year. Then, teams are paid based on where they finished last year—Mercedes was given an additional $61 million for finishing first, while Ferrari was given $41 million for finishing third, for example.
After that, teams qualifying for a "long-standing team" bonus were given $68 million. Ferrari was the only team to qualify.
Teams also get cash as a part of the constructor's championship bonus—Ferrari, McLaren, Mercedes, and Red Bull received $143 million in total. Lastly, there are a collection of other bonuses, like a $10 million heritage prize awarded to Williams, and a $36 million bonus given to Red Bull for being the first team to sign the Concord agreement.
But that's just a limited explanation. Check out the full video right here.