F1 prize money for 2023 season: Ferrari remains on top with $208 million. Ferrari received the largest amount of money thanks to its substantial historic bonus.

Formula 1, impressive numbers

Last February 29, Formula 1 announced its revenue for the 2023 championship, confirming record numbers, 25% higher than the previous twelve months. Indeed, while in 2022, revenues reached $2.57 billion, last year they increased to $3.22 billion. A significant portion of this figure ($2.5 billion) came from entry fees, broadcasting rights, and sponsorships (+21% compared to one year ago).

The Distribution to Teams
As is well known, the ten teams receive a slice of this pie – guaranteed to them by the Concorde Agreement – which amounted to $1.21 billion for 2023. The German publication Auto, Motor und Sport calculated that Scuderia Ferrari received the largest amount of money – thanks to its substantial historic bonus that increases as revenues grow – reaching $208 million.

The Prancing Horse has surpassed Red Bull ($184 million) and Mercedes ($179 million). Williams made a significant jump in the rankings, moving from tenth to seventh place ($97 million). Three teams saw a decrease compared to 2022: Alpine and Haas earned $7 million less, and Sauber as much as $18 million less.

Show your support for Scuderia Ferrari with official merchandise collection! Click here to enter the F1 online Store and shop securely! And also get your F1 tickets for every race with VIP hospitality and unparalleled insider access. Click here for the best offers to support Charles and Carlos from the track!

Ferrari’s bonus
One of the key issues of the Concorde Agreement remains the historic bonus guaranteed to Scuderia Ferrari. And even for the renewal of the agreement, which will start from 2026, the path seems to be anything but smooth. According to Auto, Motor und Sport “the smaller teams are asking for a reduction of the bonus because it takes money away from them” and therefore how much the Italian side receives will once again be one of the critical points of the negotiations to reach a new agreement.