Ferrari takes largest slice of 2017 prize payout

Ferrari might have finished in only third place in the constructors championship in 2016, but they've come out top in terms of prize money.

According to figures sourced by Autosport magazine, the team will net $180 million for last year's campaign. Payments will primarily be made over nine instalments through 2017.

Ferrari receives a basic $36 million payment for taking part in the season. All teams receive this amount with the exception of Haas, which doesn't qualify yet having completed only one season. If Manor Racing had survived, the ten eligible teams would have received $32.5 million apiece.

Ferrari receives a further $41 million based on its position in the final team standings. As champions, Mercedes net $61 million while runners-up Red Bull get $52 million.

The Scuderia is the only team to be handed a 'long standing team' bonus. That's based on their having taken part in every F1 race since 1950. The controversial bonus is this year worth $68 million.

Ferrari is also one of four teams to get a constructors championship bonus, boosting its take by a further $35 million. McLaren receives $30 million for the same purpose.

Mercedes and Red Bull also both get extra prize money in this way, to the tune of $39 million apiece. Both teams also get a further $35 million from the division of the total prize fund, and Williams' payout is likewise topped up by a further $10 million.

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Compared to Ferrari's $180 million share, Mercedes receive a total of $171 million and Red Bull get $161 million. All three are a long way ahead of McLaren which nets $97 million despite enduring an horrendous season.

The lowest amount goes to the newest team Haas, which pockets just $19 million for its maiden season.

The total paid out is $940 million, with is down 3.5 per cent on the amount in 2016. The figure is lower due to increased marketing costs planned by Liberty, and because there is one less race in 2017.

The prize money represents around two thirds of F1's three different revenue streams: hosting fees, media rights, and hospitality and trackside sponsorship.

Despite coming out on top in term of prize money, Ferrari's prize is down almost ten per cent on a year ago. Also getting significantly less this time around are Renault and Sauber.

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Andrew Lewin

Andrew first became a fan of Formula 1 during the time when Michael Schumacher and Damon Hill were stepping into the limelight after the era of Alain Prost, Nigel Mansell and Aryton Senna. He's been addicted ever since, and has been writing about the sport now for nearly a quarter of a century for a number of online news sites. He's also written professionally about GP2 (now Formula 2), GP3, IndyCar, World Rally Championship, MotoGP and NASCAR. In his other professional life, Andrew is a freelance writer, social media consultant, web developer/programmer, and digital specialist in the fields of accessibility, usability, IA, online communities and public sector procurement. He worked for many years in magazine production at Bauer Media, and for over a decade he was part of the digital media team at the UK government's communications department. Born and raised in Essex, Andrew currently lives and works in south-west London.