2. Formula 1 Grand Prix (Racing): $30 million
There is no question that Formula 1 Grand Prix (also known as F1) is one of the world’s richest sport events. (Check out this article focusing on F1 expenditures). 11 car racing teams (with total 23 drivers) compete in this championship annually. The championship itself goes throughout the year at several race tracks across the world.
Unlike other sport events, F1 has no definite amount of cash prize. F1 is a billion dollar business. The profit made from the championship is split among the race committees and the race participants.
An equal share of 50% goes to both parties. The 50% share for race participants is divided again among race teams based on their results and points rank at the end of the championship.
For example, last year championship gained $1.8 billion of profit. So, $900 million was divided among top 10 constructor teams. Despite winning the championship, Mercedes only got $148 million from it. Ferrari, finishing as runner up, got $200 million due to its special contract. Sebastian Vettel, Ferrari’s number 1 driver, got $30 million bonus from the cash prize.
