2023 was not only a record year for Verstappen, Formula 1 also went well last year as an organization. Okay, the races were more often boring than entertaining, but the motor racing class did record the largest profits in the history of the sport. According to German Auto, Motor und Sport F1 made a profit of 3.222 billion dollars in 2023. This is approximately 2.969 billion euros. Even with Bernie Ecclestone at the helm, it never achieved that much floes to grab.
For the second year in a row, F1 breaks the record for most revenue in 365 days. In 2022, 2.573 billion dollars (approximately 2.4 billion euros) in profits were made. Now another half billion will be added. The income mainly comes from the money for television rights, registration fees from the F1 teams and of course the sponsors.
What percentage of the profits goes to the F1 teams?
The F1 teams can of course enjoy the success of the racing series, they get a big bite. But the F1 management has made a somewhat curious agreement with the teams. The percentage that the racing stables receive depends on the profit. That sounds logical, but the more money that comes in, the smaller the percentage that the F1 teams receive. For example, in 2021 the teams were allowed to share no less than 66 percent of the profits. This year it is 63 percent. Even so, more than half still goes to the racing teams.
The percentage of profit that goes to the racing teams in F1 will amount to approximately 1.12 billion euros in 2023. To be fair, each team would receive approximately 112 million euros, but that is not possible. Firstly, the teams are paid based on the result of the constructors' championship. In addition, there are all kinds of other agreements that give some teams a larger piece of the pie. In this way, Ferrari has managed to secure a nice bonus for itself. So they get more. Huh?
Ferrari deserves the best thanks to Bernie Ecclestone
A while ago the brand threatened to leave Formula 1. To prevent a Ferrari exit, then F1 director Bernie Ecclestone offered an extra bonus for the team from Maranello. “Okay, then we'll stay a while,” was Ferrari's response. Ecclestone thus ensured that Ferrari stayed. Or did Ferrari always plan to stay, but found a way to rake in some extra millions? If you know, you can say it…
The distribution of F1 profits among the teams in 2023
Team | Income |
Ferrari | 191 million euros |
Red Bull Racing | 169 million euros |
Mercedes | 164 million euros |
McLaren | 107 million euros |
Alpine | 96 million euros |
Aston Martin | 93 million euros |
Williams | 89 million euros |
Racing Bulls | 73 million euros |
Sauber | 68 million euros |
Hare | 64 million euros |
#boring #races #money