We all know Formula 1 is an expensive form of motorsport, but the total of figures being bandied about in a recent article from Forbes may still shock. Based on publicly available accounts the the combined losses of F1 teams from 2010–2012 is a touch over US$520 million.
More surprising to learn is that almost half of that total has been lost by Marussia. While it may still be a drop in the ocean the two points scored by Jules Bianchi in the Monaco Grand Prix last weekend could amount to almost US$50 million in prizemoney if the team can remain ninth in the constructors’ championship.
You should follow the link below to read the article in full, but this is the crux:
These smaller teams often struggle to keep up with those which are owned by global brands because there are no restrictions on spending. The teams regularly spend more money than they receive in revenue and the difference usually comes from debt or their owners. The deeper the owners’ pockets, the more money available to their teams. The owners’ objective is to outspend their rivals in a bid to win on track and it has led to annual team budgets accelerating to an estimated $211 million last year.
[Source: Forbes | Thanks to Tim for the tip]