F1 teams have lost $45 million in prize money since Liberty Media arrived

F1 teams have reportedly taken $45 million less in prize money since Liberty Media took charge in January 2017. The 2018 prize pot is expected to see a rise from 2017, but the total is still significantly down compared to 2016.

A report released today confirms that the 10 F1 teams were given $307 million prize money for the months April, May and June of 2018. This is a 7% drop on the same time period last year according to Forbes. By the end of the year, teams are expected to be given $2 million more than 2017, which will be $45 million less than 2016.

Re-branding, new theme tune, Esports series and new staff have resulted in F1 spending more money. This is likely to be the reason behind the teams taking in less.