F1 »

F1 Austrian Grand Prix: Ferrari at ease with latest F1 money distribution

Ferrari team principal Maurizio Arrivabene is comfortable with the latest F1 money distribution shares sticking to its prior agreement which runs until 2020
Ferrari team principal Maurizio Arrivabene is comfortable with the latest F1 money distribution shares having already secured its own deal with Bernie Ecclestone until 2020.

Ferrari is expected to receive an estimated $192 million in total this year from its involvement in F1, the highest of any team on the grid, which is added up from the teams' championship results, constructors' championship bonus and its long-standing 'heritage' payment from the F1 commercial rights holder.

With smaller teams demanding a fairer split in prize money Ferrari could see its share in money slightly reduced but Arrivabene is satisfied the deal Ferrari has in place with F1 ensures the Italian manufacturer remains in a strong financial position.

“We feel very comfortable because the commercial rights holder signed a contract with us and the contract is there,” Arrivabene said. “After 2020 we will see what's going on. It's early to talk about that. He can talk, he is the commercial rights holder.”

Ecclestone has been keen to address the balance of F1 money distribution to make it fairer, while Force India and Sauber lodged an official complaint to the EU Commission on the issue.

A meeting was held on the Thursday before the Austrian Grand Prix weekend for team bosses and Ecclestone to discuss future money distribution and while the F1 supremo seems keen to implement change ideally for 2017 the current Concorde Agreements will run until the end of 2020.

The Concorde Agreement, settled in July 2013, is a contract between the FIA, F1 teams and the Formula One Group which states the terms of each team competing in the sport and how television revenue and prize money is divided.



Related Pictures

Click on relevant pic to enlarge
Grid: Sebastian Vettel (GER) Ferrari SF16-H
The fiery Renault RS16 of Kevin Magnussen - credit: F1 TV
29.09.2016 - Sebastian Vettel (GER) Scuderia Ferrari SF16-H
29.09.2016 - Daniel Ricciardo (AUS) Red Bull Racing RB12
29.09.2016 - Daniil Kvyat (RUS) Scuderia Toro Rosso STR11
29.09.2016 - Daniil Kvyat (RUS) Scuderia Toro Rosso STR11
29.09.2016 - Max Verstappen (NED) Red Bull Racing RB12
29.09.2016 - Eric Boullier (FRA) McLaren Racing Director
29.09.2016 - Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Jean Alesi (FRA)
29.09.2016 - Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid
29.09.2016 - Press conference, (L-R) Esteban Ocon (FRA) Manor Racing MRT05, Nico Hulkenberg (GER) Sahara Force India F1 VJM09, Daniil Kvyat (RUS) Scuderia Toro Rosso STR11, Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid, Jenson Button (GBR)  McLaren Honda MP4-31 and Felipe Massa (BRA) Williams FW38
29.09.2016 - Press conference, Nico Rosberg (GER) Mercedes AMG F1 W07 Hybrid and Jenson Button (GBR)  McLaren Honda MP4-31
29.09.2016 - Kevin Magnussen (DEN) Renault Sport F1 Team RS16
29.09.2016 - Kevin Magnussen (DEN) Renault Sport F1 Team RS16
29.09.2016 - Pascal Wehrlein (GER) Manor Racing MRT05
29.09.2016 - Felipe Massa (BRA) Williams FW38
29.09.2016 - Felipe Massa (BRA) Williams FW38 and Felipe Nasr (BRA) Sauber C34
29.09.2016 - Felipe Massa (BRA) Williams FW38 and Felipe Nasr (BRA) Sauber C34

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


mrfill

July 06, 2016 2:00 AM

I was flabbergasted that they didn't complain about the over generosity and refuse to accept the historic payment in the interest of the sport. And then the alarm went off and I woke up....



© 1999 - 2016 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.