Red Bull pays Vettel EUR 3m title bonus

Mon, 22 November 2010, 08:31

Nov.22 (GMM) Sebastian Vettel’s championship bonus tallies a cool EUR 3 million, according to the German newspaper Bild.

It emerged after Red Bull won the 2010 constructors’ championship that the team is paying its entire staff – more than 500 people – a healthy monetary bonus.

Reports said the bonus is 10,000 British pounds each.

But Bild claims that only basic employees are receiving the EUR 12,000, with higher-paid engineers all getting up to 50,000.

The newspaper said the bonuses are costing Red Bull millions, “and champion Vettel is getting three of them”.

Bild said Red Bull Racing’s total championship windfall under the prize-money clauses of the Concorde Agreement is a whopping EUR 73 million, payable in four instalments.

Team owner Dietrich Mateschitz told Die Welt newspaper that formula one team budgets currently range between “probably 100 and 500 million euros”.

“Our budget is roughly in the lower mid-range,” said the billionaire.

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