In recent years, formula one has gained popularity and attracted new supporters. There is a great deal of excitement about the sport. if you are new to F1 racing, you might be wondering; what is the F1 constructors championship prize?
Formula one competition involves two major championships. These are the drivers’ and the constructors’ championship.
They are what teams and drivers fight for in each race, with the gold of ultimately clinching the title by the end of the F1 season.
When it comes to teams, you refer to their title as the constructors’ championship. Emerging as the winner comes with benefits and a team or constructor gets a prize for the win.
So, what is the F1 constructors’ championship prize?
It is important to learn and understand how constructors’ championship works. This is going to help you appreciate the efforts that teams put in competing for the championship.
What is the F1 Constructors’ Championship Prize?
In simple terms, a constructors’ championship prize in F1 is the award presented by the FIA to the most successful constructor in a single F1 season.
For our discussion today, a constructor is any of the ten teams that are participating in F1 racing today.
To win the prize, a team must score the highest number of points in each grand prix. The points are then added together, with the team with highest points is declared the winner.
For example, in the 2021 F1 season, Mercedes F1 team won the constructors’ championship for the 8th year in a row.
They did that by scoring 613.5 points over the course of the 2021 formula one season.
Prize for the Constructors Championship in F1
It is a dream and aspiration for every F1 team to win the constructors’ championship.
Apart from the bragging rights of being a winner, a team also gets prize money from achieving success on the track.
This means that the prize of a constructors’ championship include money. A team leaves a season with deeper pockets, and this is good for their balance sheet.
How Winning Constructors Get Prize Money
One of the important constructors’ championship prize is the money the winning team gets.
When you look at the F1’s revenue, it is divided into two categories. To put it into perspective, the revenues account for about 47.5% of the total profit.
50% of the revenues go to the teams, and the other 50% goes to the shareholders.
While there is about 23.7% that is shared equally among the ten teams, there is also prize money shared based on how teams finish on points.
This means the team with the highest points over an F1 season receives more money. A constructors’ champion thus gets more money.
Mercedes Constructors’ Championship Money in 2021.
Teams in the top three of the constructor’s board which include Mercedes, Red Bull, and Ferrari earn additional benefits.
This comes from 20% of Formula 1 makes, which is easily over $650 million.
Mercedes’ prize money is what is left after the revenues, additional income, and special payment.
As mentioned earlier, F1 divides the money based on the standings on the board.
Thus, Mercedes will receive 14%, Red Bull 12.9%, and so on; as it decreases, Haas will only 6% of the prize money.
As a result, Mercedes would have received over $73 million after winning the 2021 title.
That’s a hefty motivating factor for teams! However, surely it only comes second to the feeling of winning in Formula 1.
Constructors Championship Point System in F1
Formula one has a point system that determines how teams win the constructors’ championship.
It is one of the most important aspects in winning the F1 constructors’ championship.
Related: How Does the F1 Constructors’ Championship Point System Work?
A team should be able to score as many points as possible to win the ultimate prize.
To win the constructors’ championship prize, the F1 teams must compete in each grand prix. A team that emerges top, with the highest points is declared the world champion.
You will also find that a similar point system exists for the drivers’ championship.
Conclusion
In conclusion, every formula one team aspires to win the constructors’ championship.
While there can only be one winner per season, the completion is fierce.
It is important to note that there are benefits to winning the F1 constructors’ championship. A team gets the ultimate prize in the F1 racing.
A key component of the championship is the prize money that comes with winning the title.
The constructor who wins gets financial or commercial benefits. You should understand how formula one makes money, and how the prize money is distributed among the various teams.
There is a formula that is used to share the prize money, with the title winner getting the highest share of the F1’s prize fund money.
F1 is big business. Each team works hard to win the constructor’s championship prize over the course of a season.
As you watch this season unfold, be on the lookout on how the team are performing and scoring points.