The Hidden Economics of Formula 1

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The top F1 teams each spend about 175 million dollars per year to put the best cars on the grid and pay fees of up to 5.5 million dollars just to enter the championship, the money involved in Formula 1 is just ludicrous.

The sport is a global cash-making machine that employs 50,000 people and dishes out an incredible one billion dollars of prize money to the teams.

This money is used to build the fastest race cars on the planet and fund driver salaries of over 40 million dollars.

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Formula 1 is run by Liberty Media, which bought control of the Formula One Group for 4.4 billion dollars in 2016.

There were an incredible 433 million viewers of F1 races last year, so it’s no surprise that Liberty makes most of its money from TV rights.

TV outlets such as ESPN and Sky give full coverage of each race weekend and pay a huge amount for the privilege.

Sky is by far the biggest source of TV income, with a 255 million dollar per year deal that is the biggest in the sport’s history.

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Видео The Hidden Economics of Formula 1 канала Driver61