Ferrari Captures the F1 Money Championship

Formula 1

Ferrari will receive $105 million prize money for the 2011 season, $11 million more than reigning champion Red Bull.

Red Bull Racing has won the F1 World Championship for manufacturers on the track by a huge margin over second place McLaren, however it lost the money race to the third-placed team, Ferrari, by a narrow margin. According to Autosport Magazine's calculations, from a pot of $691 million for distribution among the 13 F1 teams, Ferrari will get $104.6 million while Red Bull gets $93.1 million and McLaren in third place gets $84.4 million.

The prize money is distributed according to a set of criteria that is defined in the Concorde Agreement, the contract between the series organizer and the teams. Ferrari enjoys a preferred status due to its standing in the sport and the unique brand awareness that it carries with it. Under those terms, Ferrari receives 2.5% of the total pot before it is distributed. Then, like other teams, it receives prize money for past championships successes, for its rankings in the last three seasons and this year's ranking.

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It is interesting to note that Ferrari's competitors are aware of the situation and support it, because Ferrari's brand awareness is much wider than any other brand in Formula 1, including F1 itself. The idea of Ferrari withdrawing from Formula 1 is as frightening for the commercial rights holder of the sport as for Ferrari's fans themselves.