While F1 is the pinnacle of motorsport, it is also a business. When it comes to money, Formula 1 teams and bosses keep their cards close to their chest. Drivers are constantly negotiating new salaries and talking to other teams on the grid, so the exact figures are safely guarded secrets....
Well-known for his huge donations to charity and people in need alongside his high earnings, Schumacher was later listed by Forbes in 2017 as the fifth-highest paid athlete of all time, in terms of career earnings. He has not been seen publicly since a life-altering skiing accident in 2013...
Drivers racing in lower categories rely heavily on sponsors or financial backers to further their careers, which becomes less of a lucrative investment if their future earnings could potentially be lower. “In all the junior categories, you see how many of those drivers have a sponsor or a back...
Year Earnings 2024 $10 million 2023 $10 million 2022 $10 million Valtteri Bottas Brand Ambassador Valtteri Bottas works with several luxury brands as their ambassador, representing the brand and its offer to his followers and fans. Among them: Wihuri, a Finnish corporation involved in a variety ...
Rival team Red Bull's Dr Helmut Marko recently speculated that Hamilton was "annoyed" that he has been overtaken by Max Verstappen in the F1 earnings stakes. "At least he could change that with Ferrari's help," the 80-year-old Austrian added. Wolff admits that the "money" issue is a ...
“The other teams are still competing firstly, with tight battles all the way down the field at every event,” Domenicali said on the earnings call. He noted that six different teams have scored podium finishes this season, and Ferrari, McLaren and Mercedes have improved. “We have m...
“Today, investors know you cannot spend more than $140mn and Mercedes and Ferrari cannot either. Meanwhile, the Ebit [earnings before interest and taxes] of F1 is growing, and the teams take around 70 per cent of that. Even the lowest placed team will get between $75mn and $80mn in...
Carlos Sainz and Charles Leclerc, as F1® drivers, every day face the challenge of making the competition more sustainable by piloting racing cars. But Scuderia Ferrari has an even bigger challenge: to transfer the efficiency of racing cars achieved through hybrid engines to road cars. Som...
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EARNINGS DRIVERS Gross Margin Consolidated gross margin in 2023 was $416.3 million as compared with $376.9 million in 2022, an increase of $39.4 million or 10.5 percent. This increase was primarily due to new base rates resulting from the Montana rate review, lower non-recoverable Montana electri...