Formula 1 enters a new era this weekend with the Australian Grand Prix, the traditional season-opener at Albert Park in Melbourne. Lando Norris arrives as reigning world champion after pipping Max Verstappen by two points in a tense Abu Dhabi finale. However, with new engine and chassis regulations and the addition of Cadillac as an 11th team, McLaren are not the frontrunners. Mercedes’s engine prowess puts them top of the list, with British driver George Russell the bookmakers’ favourite. Ferrari and Lewis Hamilton, who endured a podium-less debut season with the Scuderia, look strong after pre-season testing and are in contention.
The prize money on offer for 2026 centres on the constructors' championship. The pot comprises 50 per cent of F1's commercial rights revenue. In 2023, that revenue was $3.2bn (£2.3bn), giving an estimated prize fund of $1.6bn (£1.2bn). Deductions are made to acknowledge the value of particular teams, such as Ferrari, for their global popularity. The remaining sum is split among the 11 teams, with the champions receiving an estimated 14 per cent and last place taking six per cent.
McLaren were estimated to have earned $140m (£110m) for their 2024 title, with each subsequent team taking approximately £7m less per position. Points are awarded on a sliding scale: 25 for a win, 18 for second, then 15, 12, 10, 8, 6, 4, 2, and 1 for tenth. An extra point goes to the driver with the fastest lap, provided they finish in the top ten. In the event of a tie, the team with the most wins takes the title, followed by most second-place finishes, and so on.
