The 2020 F1 season now seems a distant memory, and teams, drivers, and fans alike have shifted their focus on the 2021 campaign instead. However, there is still a long time left for the season opener in Australia (or Bahrain, if reports are to be believed) to come around.
Also Read: F1 Could Lose the Australian GP as the Season Opener for 2021: Reports
So, for an F1 fan, the downtime allows for many a question about the sport and the running of it itself. Therefore, to pass the time and arouse the interests of fans during this dreary period, we have a look at the spoils each team earned from the 2020 season.
How does the cash prize system work?
If you are not in the know, F1 teams earn a certain amount of money at the end of each season, courtesy of F1’s owners Liberty Media.
The cash prizes are distributed based on where the teams finished on the Constructors’ Championship table. So, by that reckoning, one would think that Mercedes are the biggest winners, right?
Well, not quite.
There are a couple of other factors that determine what a team earns – one being the ‘historical bonus.’ This sum is paid to the teams who have won the championship before.
Moreover, Ferrari gets a special bonus to its name on account of having competed in all the seasons of F1. This sum is determined by the total amount of money that Liberty Media will divide among the teams.
If the total sum is below a billion dollars, then Ferrari earn a 5% bonus. If it rises to over $1.1 billion, then Ferrari stand to earn 10% off it.
So finally, what did each F1 team earn for 2020?
Thanks to the special Ferrari bonus, the Maranello based outfit earned $150 million ($85 million for finishing in sixth place + $15 million of historical bonuses + $50 million of the special bonus).
While Mercedes earned $145 million ($124 million for finishing in first place + $21 million worth of historical bonuses), Red Bull earned $132 million ($116 million for finishing in second place + $16 million in historical bonuses).
McLaren earned $115 million ($108 million for a third-place finish + $7 million in historical bonuses). Renault earned $97 million ($92 million for a fifth-place finish + $5 million in historical bonuses) while Williams earned $59 million ($53 million for a 10th place finish + $6 million in historical bonuses).
Racing Point ($100 million), AlphaTauri ($77 million), Alfa Romeo ($69 million), and Haas ($61 million) weren’t eligible for any bonuses.
Do you think the cash prizes are apt for the teams?
Should Ferrari continue to get its special bonus?
Comment below and tell us what you think!