F1 Rumor: Ferrari Retains Historic Bonus Payment in New Concorde Agreement

Ferrari is reportedly set to retain its unique financial bonus in the new Concorde Agreement, though with a restructured cap, amid discussions on the future economic framework of Formula 1.

May 3, 2024; Miami Gardens, Florida, USA; Ferrari driver Charles Leclerc (16) enters the track | John David Mercer-USA TODAY Sports

Ferrari is set to continue receiving its historic bonus in the upcoming Concorde Agreement, albeit with a newly proposed cap, according to a report from Autosport.

The Formula 1 landscape is poised for significant financial restructuring as the sport prepares for the forthcoming Concorde Agreement refresh slated for 2026. Central to this recalibration is the position of Ferrari which appears set to retain its controversial historic bonus payment, though with adjustments to its structure.

Under the existing Concorde Agreement, which spans from 2021 to 2025, Formula 1 teams are entitled to 50% of the sport's profits until a specific threshold is reached, after which their share decreases. Notably, Ferrari secures an additional historical payment, minimum 5% of the total prize pool, reflecting its unique status as the only team to have participated in every championship season, a bonus that does not depend on their performance. However, the report from Autosport states:

"Sources have revealed that the proposal in the next Concorde Agreement is for Ferrari’s bonus payment to be capped at 5% no matter what the prize pool level is."

This bonus has been a contentious issue among some of F1's stakeholders, who challenge the necessity of such exclusivity. Despite this, there are compelling arguments in favor of preserving Ferrari's enhanced revenue share, given its lengthy and storied involvement in the sport.

Formula 1 CEO Stefano Domenicali has spoken about the ongoing Concorde Agreement discussions. He explained:

“We are in the process of discussion with the teams. The most important point is to keep the situation as stable as possible. 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.”