Ferrari’s long-standing bonus payment is set to be capped in the forthcoming Formula 1 Concorde Agreement, according to reports.
The Concorde Agreement is a document set out by Formula One Management, the teams and the FIA concerning the regulations and commercial agreements surrounding Grand Prix racing.
As it stands, the current Concorde Agreement runs through 2025 and talks are ongoing to set the new terms for 2026 and beyond.
One of the points discussed is how the prize money is handed out to teams, but Ferrari’s historical significance to F1, having been involved in the sport from the second World Championship race of the inaugural 1950 season has meant the Italian marque has had a handy bonus payment each year.
Autosport understands that is currently a 5% slice of the prize fund in the event the money shared between the 10 teams doesn’t exceed $1.1 billion.
It is also understood that this can grow to as much as 10% in the event prize funds reach up to $1.6 billion.
Ferrari’s value to F1 is unquestionable, something the marque has had no trouble flaunting when necessary, but it appears an amicable agreement has been proposed, whereby its bonus prize continues, but is capped at 5%, regardless of the total prize pot.
As the sport strives for a fair financial footing for all competitors, this is a positive and necessary step to ensure Ferrari doesn’t gain any unnecessary financial advantage – not that it needs much help in this regard.
“The most important point is to keep the situation as stable as possible,” F1 CEO Stefano Domenicali said in a recent earnings call (via Autosport)
“These are the points of discussion. And as you can imagine, we cannot go into detail of it, but as soon as we can, we will share what we can do.
“The situation is optimal to keep discussing with the teams, with all the relevant parties, the best way to finalise everything for a stronger future up to a longer term.”
But where does Ferrari stand on the developing Concorde Agreement?
Unsurprisingly, Team Principal Fred Vasseur has remained tight-lipped on the subject.
“You know you can ask the question, but the question is for you, because you know perfectly that I will never reply,” he said at Imola.
“Enjoy asking the question, but you know that I will never reply!”
