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Rumoured Heineken Deal Good for Formula 1, but Not Necessarily Individual Teams
Published: May 22, 2016
The agreement is said to be worth $150 million over five years, according to a report in Dutch newspaper De Telegraaf (h/t the Guardian's Paul Weaver).
This is great news for Formula One Management (FOM), the sport's commercial rights holder, coming on the back of Shell's recent withdrawal as a series sponsor (though their relationship with Ferrari continues), per German website Motorsport-Total.com (h/t Crash.net).
It is not necessarily great news for F1's teams, though.
That is because FOM, a privately held company, takes a cut of the revenue from series sponsors (as opposed to the teams' individual sponsors) before distributing the rest to the teams through annual prize money disbursements. FOM's cut is approximately 35 per cent, according to Autosport's Dieter Rencken and Lawrence Barretto.
So the actual amount the teams will receive, if the Heineken rumour is accurate, is somewhere in the neighbourhood of $100 million over five years. With 11 teams currently competing in the sport, that would work out to a bit less than $2 million each year per team if the prize money were distributed equally—but it's not.
And it's not exactly a massive windfall in a sport where some team budgets are counted by the hundreds of millions.
Aside from dealing with the inequitable prize money payouts, the teams are actually battling against the commercial rights holder for sponsorship dollars. Some companies sponsor teams, placing their logos on the cars and the drivers' race suits, while others sponsor F1 itself.
If you were a company, what would you prefer: your logo plastered around ev...
Article Source: Bleacher Report - Formula 1
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