The system of prize money, which has been in force in Formula 1 since 2013, assumes that this part of the teams’ income is divided into three components.
“First Column” – fixed payments to all participants in the Championship, who have finished in the top ten of the Constructors’ Championship in at least two of the three previous seasons.
The “Second Column” is calculated based on the team’s results in the previous season.
There is also a system of bonuses for historical contributions, in particular Ferrari, Red Bull Racing, McLaren, Mercedes and Williams receive additional payments for their experience in Formula 1.
In addition, there is a separate article for Ferrari, as the oldest participant in the championship – this is about 2.5% of the total prize money, more than 75 million dollars per season.
Williams team boss James Vowles is not opposed to someone getting more, but wants an equal chance. According to calculations, an additional $36 million will not be enough to modernize the base, which has long since become obsolete, and without serious capital investment, the team will be left behind forever.
James Vowles: “There is no doubt that Ferrari adds value to our sport. If you ask an ordinary person who he knows in Formula 1, he will name Ferrari. This team is always up for grabs.
I don’t mind people getting more. But I would rather see every team have a chance to win the race every weekend. Teams must have equal opportunities. It would be great for our sport.
Everyone understands that Williams is significantly inferior to its closest rivals in terms of equipment and resources. And in conditions of cost containment, we are forced to get permission from rivals who also want to invest additional money.
So far, these negotiations have been going in circles. Someone is in a different position, someone has no money, someone does not want to spend it, someone is afraid of change. I hope that at the next meeting we can influence the position of other teams.”
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
