Auto Racing: Prize Pool for Race Drivers???, bernie ecclestone, money prizes

Question
Hi there,

I know in F1 drivers get pais heaps, but do they get paid if they wn and stuff? How about prior to F1, like in GP2, F3, etc, do they get any money at all?

Thanks
Ashwin!

Answer
Hello Ashwin, thanks for the question.
F1 prize money is perhaps suprisingly a big secret. The FIA, the governing body, organise the prize fund with the FOM (Bernie Ecclestone's company) and it is set out in a confidential legal contract, the Concorde Agreement, which all F1 participants must sign up to. It is a complex area, for example setting out how much of teh TV income pool is distributed to each team, as well as the prize fund for individual races and the championship. For example, the finishing position of teh manufacturers at teh end of the season is a factor in dividing out which team gets what money.

Occasionally some information comes to light, sush as set out on the unofficial website http://www.concordeagreement.com

This says that of the total FOM fund of €800m, around 47% is available to the teams. My understanding is that individual money prizes for races either are quite small or non existant. Think of it this way, if you do well in a race you get points, at the end of the year the number of points won dictates how much money the teams get, therefore indirectly, your win money is deferred. Further complicating this, drivers are salaried, from their teams, but their individiual contracts may stipulate win bonuses or performance bonuses, and again, this is alas all secret.

There is further detailed information on the website for the Economist magazine:
http://www.economist.com/displaystory.cfm?story_id=6012
This (2000 article) doesn't give a figure for particular race win prizes either though....

Hope this helps you,
Adam