Force India did not receive this month’s Formula 1 prize money payment and does not know if it will get one in October.
The team’s right to a share of F1’s prize money has been in doubt since it went into administration during the summer break and returned to F1 as a new entry called ‘Racing Point Force India’. Some of its rival teams have not agreed to let it continue receiving the money which was earned by the team in its previous guise as ‘Sahara Force India’.
The ‘column one’ prize money payment, which is made to all teams which participated in two of the previous three seasons, is worth around $3 million per month to each team.
Team principal Otmar Szafnauer confirmed when asked by RaceFans the team did not receive the payment at the beginning of September, following its return to F1 at the Belgian Grand Prix on August 26th. “It wasn’t quite solidified then,” he explained.
Teams receive prize money in a series of monthly payments which are based on revenue projections, then receive a final ‘balancing payment’ in March. Szafnauer indicated any missed revenue could be made up then. “It could go for months and you still get the back-pay,” he said. “There’s a reconciliation that happens.”
Szafnauer said he expects Force India’s payments will resume next month. “Last month was extraordinary circumstances with the administrators and other things. I feel confident it will happen. But I won’t know for sure until Monday.”
Advert | Become a RaceFans supporter and