Today's F1 News Delivered Faster Than a Pit Stop
Formula 1's prize pot, though not publicly disclosed, can be estimated through financial records. Half of F1's profits are distributed to teams, with champions receiving the highest share, a system revamped by Liberty Media in 2017 for fairer distribution under the Concorde Agreement. The focus here is solely on prize money, with additional bonuses like Ferrari's historical bonus, rumored to be 5% of the prize pool, approximately $50 million annually. Teams with recent success also receive extra bonuses. Champions now receive about 14% of the prize pool, while 10th-place teams still get 6%. After accounting for all bonuses, around a billion dollars in prize money remains, with Red Bull leading with substantial earnings, while Haas, finishing tenth, collects only $60 million from the total of $800 million distributed.
Click here to read the full article by Jesse Janse (racingnews365.com)
Haas entered Formula 1 in 2016 with a strategic plan to leverage Gene Haas's NASCAR experience and forge a unique path by closely collaborating with partners like Ferrari. The approach initially succeeded, with Haas finishing eighth in their debut season and climbing to fifth in 2018. However, their reliance on Ferrari backfired in subsequent years as the Italian team faced challenges. In response, Haas chose not to develop their underperforming car in the penultimate season of existing regulations, opting to focus on the future. This decision, coupled with a shift to rookie drivers, signaled a shift from the team's initial can-do spirit to an early surrender, raising questions about their commitment to the sport.
Click here to read the full article by Andrew Lewin (f1i.com)
The FIA is considering the possibility of having two Spanish Grand Prix races, including one in Madrid, alongside the existing race at the Circuit de Barcelona-Catalunya. FIA President of the Senate Carmelo Sanz expresses the desire for an F1 race in Madrid, suggesting that having two races is possible, though not easy. The envisioned Madrid F1 circuit would likely be a semi-street circuit rather than using the Jarama circuit. However, Sanz points out that rumors about the Madrid project may have overstated its progress, and as of now, the project has not been received by the relevant authorities for consideration and approval.
Click here to read the full article by Roman Brock (total-motorsport.com)
Alex Albon and Logan Sargeant got into the Christmas mood as they sat by the fireside, exchanging gifts and reflecting on the 2023 season. They discussed their holiday plans, with Sargeant mentioning he'd do some simulator training before heading back to family in Florida, while Albon is taking a two-week holiday.
The year 2023 is coming to an end, and Williams Team Principal Franz Tost will be leaving the team. Over the past 18 years, there have been highs and lows, successes, hard work, and the introduction of many new drivers to the sport. Franz has played a key role in transforming the team from a small entity into a significant organization with over 400 employees.