Formula 3 Unveils €1 Million Prize Fund for Drivers Advancing to F2
Recently, Formula 3 made a significant announcement regarding a new prize fund totaling €1 million, designated for the top five drivers who progress from F3 to Formula 2 (F2). This initiative aims to support and incentivize drivers as they make the transition to the next level of motorsport competition. Bruno Michel, the CEO of Formula Motorsport Limited, which promotes the F3 series, shared insights about this development in a conversation with Feeder Series and selected media outlets.
Prize Distribution for F3 Drivers Climbing to F2
At the heart of this initiative is a structured distribution of funds based on performance in F3. The driver finishing at the top of the F3 standings, typically the champion, will be awarded €300,000 from this prize pool. As drivers rank lower, their share of the prize decreases by €50,000 for each position, culminating in a €100,000 prize for the fifth-placed driver.
It’s important to note that this prize is exclusively available for those drivers who choose to advance to F2. Should any of the top five drivers opt to remain in F3 for an additional season or move to a different racing series, the prize money will then be allocated to the next highest-finishing driver.
This marks the inaugural year that Formula 3 has implemented such a prize structure. This new fund complements the existing grant provided by Pirelli, which has been aiding the best-performing F3 driver transitioning to F2 or GP2 since 2012. In fact, the grant amount was increased from €200,000 to €300,000 in 2020. The funds from F3’s prize pool are set to be distributed to the top five eligible drivers starting in 2025. For instance, champion Rafael Câmara is poised to receive a total of €600,000 from both Pirelli and the newly established prize fund as he makes his anticipated move to F2 next year.
The Motivation Behind the Prize Fund
Bruno Michel emphasized that while there hasn’t been a pressing need to create this prize fund—given that finding drivers for F2 has not been problematic over the last couple of seasons—he believes it is a fair and logical step. He acknowledged that many talented drivers face financial constraints that can hinder their progress from F3 to F2.
"I cannot say that it was something that we were forced to do because, at the end of the day, finding drivers for Formula 2 has not been an issue for the last two seasons," Michel commented. "I didn’t feel that there was a massive need to help the drivers because they could not finance their seat in Formula 2."
However, he also recognized the importance of encouraging the progression of drivers through the motorsport pyramid. "It’s quite fair to encourage F3 drivers to make the leap to Formula 2," he added. "Maybe we could have done it earlier, but at least we’ve taken this step now, and we intend to continue with it in the future."
Financial Challenges in the Transition from F3 to F2
Despite the advancements in funding initiatives, significant financial challenges persist for drivers moving from F3 to F2. The rising costs associated with competing in F2 have made it increasingly difficult for many aspiring racers. Currently, even the most affordable seats in F2 can exceed €1 million, a stark contrast to the prize pool recently introduced by F3.
Michel acknowledged these challenges, stating, "You can always do more; you can always do less. The idea is to do what we can." He clarified that while the new prize fund is a substantial amount, it is not sufficient to cover the entirety of a season in F2. "Even with the top driver, when you add the prize fund from Pirelli to what this new fund provides, it totals €600,000, which is a significant amount. However, it’s important to note that for the fifth driver in the championship, €100,000 will not finance a full season of F2, but it still offers some assistance."
Michel emphasized the need for drivers to seek funding from multiple sources rather than relying solely on a single prize. "The new fund will be one of the avenues for support they can explore."
Comparative Initiatives in Other Racing Series
When discussing funding initiatives, Michel pointed out that some other racing series have taken more extensive measures to support their champions. For instance, the F1 Academy provides its champions with funding for a seat and testing in a Formula Regional-level series. Winners such as Marta Garcia and Abbi Pulling have benefited from this initiative, receiving complete funding for their seasons in FRegional Europe and GB3, respectively—a cost that exceeds €300,000, which aligns with the prize amount awarded to the F3 champion.
The IndyCar junior ladder also offers substantial financial support, with the champion of Indy NXT receiving $850,000, which covers testing as well as entries for the prestigious Indianapolis 500 and another race. This raises the question of whether F2 and F3 might adopt similar practices in the future.
Michel responded to this inquiry by highlighting the existing opportunities for F3 champions, stating, "What we’ve done, which maybe we did not communicate enough on it, is that the winner of F3 always has a comprehensive testing campaign with us on the F3 car to continue development after the season ends." He reiterated that while additional testing opportunities are available, allowing drivers competing in F2 access to F2 cars before the season begins would not be equitable.
Opportunities for F2 Drivers in Formula 1
Another critical aspect of the discussion revolved around the pathways for F2 drivers to test Formula 1 machinery. Michel noted that the connection between F2 and F1 is managed independently, with many F2 drivers becoming part of F1 teams and participating in practice sessions or testing with former cars. "There are numerous ways for them to drive an F1 car, and the teams pursue these opportunities because it serves their interests," he explained.
Current F2 drivers such as Dino Beganovic, Arvid Lindblad, Luke Browning, and Victor Martins have all had the chance to participate in FP1 sessions and other testing opportunities with their affiliated F1 teams. Notably, Alex Dunne also had similar opportunities with McLaren prior to his recent departure from the team.
Moreover, additional testing opportunities for aspiring F1 drivers have been made available through awards such as the Silverstone Autosport BRDC Young Driver of the Year Award. This prestigious award was recently claimed by Deagen Fairclough, the 2024 British F4 champion and current GB3 driver, although the award is on hold for this year.
Conclusion
Formula 3’s introduction of a €1 million prize fund for top drivers moving to F2 marks a significant step in supporting young talent in motorsport. By providing substantial financial incentives, F3 aims to ease the transition for drivers and encourage them to progress to higher levels of competition. While challenges remain in financing a complete season in F2, this initiative highlights the ongoing efforts to create pathways for aspiring racers and ensure the sustainability of the sport.
