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Unequal Formula 1 Prize Money Distribution Continues to Hurt Smaller Teams
Published: April 22, 2016
Despite finishing second in the constructors' championship last year, Ferrari will receive $21 million more in prize money than any other team this year, according to Autosport's Dieter Rencken and Lawrence Barretto. More than half of Ferrari's $192 million payout comes in the form of various bonuses, though, rather than for their 2015 performance.
Meanwhile, Sauber's financial problems meant their 2016 car was not ready for the first pre-season test and the team has been late paying their staff.
"If you try to explain to people out there the kind of income the sport generates—and it has, year by year, gone up if you look at the last few years—yet so many teams are having issues, this can't be right," Sauber team principal Monisha Kaltenborn told Crash.net. "Something is fundamentally wrong in the sport."
Force India have also been struggling financially and, along with Sauber, filed a complaint with the European Union's Competition Committee last year, "questioning the governance of Formula 1 and showing that the system of dividing revenues and determining how Formula 1's rules are set is both unfair and unlawful," according to the BBC.
Indeed, according to Autosport's figures, both Sauber and Force India (along with Renault and Toro Rosso) will receive less money than McLaren in 2016, despite finishing ahead of the Woking-based team last year.
Again, the bonus payments are to blame, as just $50 million of McLaren's $82 million haul is for the team's on-track performance. Like Ferrari, McLaren receives extra cash due to their heritage and perceived importance and value for the sport (the team has been around since 1966, winning 12 drivers' and eight constructors' titles).
With a similar legacy, Williams ...
Article Source: Bleacher Report - Formula 1
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