Prize money

There is a prize structure in F1, but nobody knows about it other than the drivers and Bernie Ecclestone. Apparently it is based on results in the race and past results.

 

Probably has to do with the super secret Concorde Agreements or they just dont want to reveal the drivers salaries. I really am not sure.

 

In the late part of the 1997 season Damon Hill was looking to join Mclaren. Ron Dennis presented him a contract for 1998 where he would partner Mika Hakkinen. The fine details of the contract stipulated that Damon wouldn't be paid a regular salary, he would only be paid when he won races. He wouldn't be paid any bonus for a podium or anything else. Mika on the other hand was being paid a regular salary and I think he was also getting a bonus for race wins. Damon didn't take the contract because he thought it would look bad for him, a world champion, to be paid much less in comparison to Hakkinen, who at that time hadn't won a race. He also thought that Mika would recieve priority.

 

I remember there being a list on here sometime last year that had drivers salaries, plus they bonus they received if they scored a win. I'm sure there's money prizes for the drivers, and I'm also sure we'll never know the details while Bernie is in charge.

 

I don't know about you guys, but I would race for zip....nada....

 

You and me both buddy, hell i'd sleep in a broken down honda civic if I could race for any F1 team.

 

Drivers' contracts sometimes have earnings for each point they get in the standings. I also read in this forum that the FOM/FIA gives about $1 million (roughly) per point to each team (not driver) scored. So $10 milllion for 1st place, $8 milllion for second, etc.