Market Overview

Ferrari Wins Formula 1 In The Accounting Department

Share:

Ferrari N.V. (NYSE: RACE) will receive more money than any other team in Formula 1 for its 2015 performance despite finishing second in the championship, according to a report from Autosport.

According to the report, Ferrari is set to receive $192 million (about 20 percent of the total), which includes $87 million in performance payments and $105 million in historic/CCB bonuses. Meanwhile, Mercedes and Red Bull will get $171 million and $144 million, respectively.

The 2015 total was $965 million and this will be distributed across 10 teams through nine monthly payments from April with a final "check" payment - when definitive revenues have been calculated - early in 2017, the report added.

Autosport said there are constructors' championship bonus (CCB) payments for four teams --Ferrari, Mercedes, Red Bull and McLaren -- which have been agreed in separate deals.

The report noted there is also a long-standing team payment for Ferrari and other fixed prize fund payouts such as a heritage bonus for Williams and negotiated payments for Red Bull Racing and Mercedes.

Posted-In: Formula 1News Sports General

 

Related Articles (RACE)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Tale Of Two Catalysts For Amazon: Better FAA Drone Regulations And Key Technical Level Smashed

Freeport-McMoRan Upgraded To 3.5 Star Stock By Vetr Top Raters