New Formula One Season 25 March 2018:

Upcoming season 2018 calendar updated according to which last race take place in Yas Marina Circuit at (Abu Dhabi). Four major grand prix held in the month of July which include (British & German Grand Prix). Only in August one F1 race in (Belgium) will be contested. While April, September and October in each of these months three races schedule.

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Cost of Engine:
Cars of F1 built with powerful engine that can produce good speed on track. Engine is one of the most expensive part of the F1 racing car. It is built for the price ($10.5 million) up to the demands of the racing team managers and owners. Engines were manage in such way that can adjust in cars. F1 teams like Mercedes, Ferrari, and McLaren who demand engine’s from Japanese company like Honda will definitely get help to reduce the cost of engine.

Cost of Front wing & Rear wing:
When the car picks acceleration on the track, wings play the important role in the balancing during the turns. Almost $300,000 required to build a better front wing and nose cone, some teams use less budget front wings which may cost them in ($150,000). The rear wings will cost almost ($150,000) maximum if they are upgraded from a better makers of Motorsports.

Cost of Steering wheel:
The actual control of the car is being control through (Steering wheel). Special steering wheels designed F1 cars. Cost of the steering wheel is maximum ($50,000-$100,000).

Cost of Fuel tank:

The average formula one car used almost ($500,000) petrol during a season. Almost 200,000 litres in a single season during practice session and racing session. Fuel tank cost ($140,000) and some maintenance cost required for the it because a single mistake cause major fire damage during the car.

Cost of Gearbox:
The gearbox is another important component in the formula one cars. The cars mostly use highly sophisticated semi-automatic, seamless shift gearboxes. The gearbox cost maximum to a F1 team almost ($440,000) but some teams upgrade them before the season began to get better performance which cost them extra amount ($160,000).

Cost of The Tires:
There are three types of tires were used during the race (Dry, Wet and Normal). Report published about the f1 tires that set of tires cost ($1715). The maximum limit of the tires used on the tracks were upto (20,000 miles).

Accident Damage Cost:
A single accident cause major damage to the car on track. Some reports came in 2015 and 2014 about the damaging of formula one cars the reports claimed a car can cost maximum damage upto ($550,000). Which include rear wings, front wings, chassis and some parts of engines.

Cost of Carbon fibre monocoque:
The structure of body of f1 car (carbon fibre monocoque) cost ($650,000). Few racing teams go for normal body structure instead of expensive one.

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#1: Kimi Räikkönen: Team (Ferrari): Contract Period (2007–09): Contract value ($153 Million):

Kimi Räikkönen made history in Formula 1 after signing most expensive contract of Formula one in 2007 for three years time period. The value of contract considered ($153 million) which include bonus money. Räikkönen make $2.94 million per race and $50 million annual salary. Before Kimi Raikkonen its Michael Schumacher who gets the biggest money contract in Auto racing.

#2: Lewis Hamilton: Team (Mercedes): Contract Period (2016–18): Contract value ($140 Million):

Lewis Hamilton is one of the best professional drivers from Great Britain. After watching his successful run in Formula season, Mercedes AMG Petronas F1 team gave him new millionaire contract deal worth of ($140 million) for next three years from 2016-2018. He will $45.5 million a year and almost $2 million per race from season 2016.

#3: Michael Schumacher: Team (Ferrari): Contract Period (1996–99): Contract value ($124 Million):

Michael Schumacher who is retired from Formula one racing sets couple of big records. He is the first F1 driver to hold the millionaire contract, which he signed in year 1996 with Ferrari F1. The contract value considered to be ($124 million). Schumacher get paid $31 million annual salary including bonus money. His per race wage estimated ($1.9 million) during the four years time period till 1999.

#4: Sebastian Vettel: Team (Ferrari): Contract Period (2015–17): Contract value ($110 Million):

All three most expensive contracts records are hold by the Formula 1 team (Ferrari F1). In 2015, they have signed a new contract deal with German professional driver (Sebastian Vettel) the contract value is ($110 million) for three years. According to Vettel new contract he will earn ($36.66 million) at the end of each year and his per race salary said to be ($1.8 million).

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Note : The above table is the actual standings of 2016 F1 season. All the prize money information adjusted from the previous racing calendar.

Once the Formula One 2017, season comes closer to the end we will updated here. Here you will get details about team earnings according to their positions. As you see in the above Ferrari earn most money then all other F1 teams its due to their contract with Formula one. They get extra bonus $20 million fund last year.

As the new season began from the month March 2017, with couple of big victories Mercedes F1 team is leading the constructor championship once again. Ferrari placed at second position so far with just few points difference. Well only 9 grand prix races left for the season. There will be a great battle to watch this season against between the Mercedes and Ferrari.

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All drivers contracts given in the table. Few of the drivers salaries estimated based on their performance level. If there are any changes made to the drivers list that will updated here before the season began.

Last year a great competition take place between Sebastian Vettel and Lewis Hamilton. Both of them finished on the top 2 position of points table. Hamilton at the end of the season become the new world champion of Formula 2017.  Last year there are 20 grand prix schedule for the season.

In 2018, we have 21 grand prix which means there is an extra race to decide the winner for the Formula One season. So far all teams announced their first and second drivers for the season competition. Williams Martini Racing team is the only one team who announced their first driver while searching for second driver before the season.

Highest Paid Formula Drivers 2018:

Sebastian Vettel: Annual Salary ($60 million): F1 Team (Scuderia Ferrari):

Sebastian Vettel is one of the best Formula One drivers in the world currently. He lost world championship to Lewis Hamilton last year with just few points difference. According to sources he signed a contract deal according to which he earn($60 million a year).

Lewis Hamilton: Annual Salary ($50 million): F1 Team (Mercedes AMG Petronas):

Lewis Hamilton won the Formula One driver championship in 2017 with just few points lead ahead of Vettel. His salary said to be ($50 million) a year according to his new contract which he signed with Mercedes AMG Petronas.

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Now you can listen live commentary and get all the latest updates from the track through (Radio Commentary) from qualifying session. In Argentina (ESPN 107,9 FM) will broadcast commentary in Spanish language. France people can tune channel (RMC) for F1 races.

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