Now that the 2023 Formula One season has come to an end its time for the 10 teams to reap the benefits of a hard fought year. The F1 prize money pay out scale decreases based on finishing position.
2023 F1 Championship Prize Money
| Position | Team | Pot Percentage | Prize money |
| 1 | Red Bull | 14% | $140,000,000 |
| 2 | Mercedes | 13.1% | $131,000,000 |
| 3 | Ferrari | 12.2% | $122,000,000 |
| 4 | McLaren | 11.3% | $113,000,000 |
| 5 | Aston Martin | 10.4% | $104,000,000 |
| 6 | Alpine | 9.5% | $95,000,000 |
| 7 | Williams | 8.7% | $87,000,000 |
| 8 | Alpha Tauri | 7.8% | $78,000,000 |
| 9 | Alpha Romeo | 6.9% | $69,000,000 |
| 10 | Haas | 6% | $60,000,000 |
2024 Entry Fees Based on Points Finish
To participate in the 2024 season the team will have to pay an entry licensing fee. As the 2023 champions Red Bull will have to pay $7893 per championship point earned. The other teams will pay $6575 per point on top of the $657,837 base F1 entry that all teams pay. Every team will offset these fees with their winnings from the 2023 season.
| Position | Team | Points | Licensing Fee |
| 1 | Red Bull | 860 | $7,445,817 |
| 2 | Mercedes | 409 | $3,347,012 |
| 3 | Ferrari | 406 | $3,327,287 |
| 4 | McLaren | 302 | $2,643,487 |
| 5 | Aston Martin | 280 | $2,498,837 |
| 6 | Alpine | 120 | $1,446,837 |
| 7 | Williams | 28 | $841,937 |
| 8 | Alpha Tauri | 25 | $822,212 |
| 9 | Alpha Romeo | 16 | $763,037 |
| 10 | Haas | 12 | $736,737 |