Formula 1 teams increase their combined budget by 21% in 2024 reaching 3.7 billion eurosaccording to the annual report on the finances of the top category of motorsport GP Business Book.
Mercedes, Ferrari and Red Bull account for 40% of the total and remain in the top three with an aggregate budget of 1.627 million eurosThe increase is mainly due to sponsorship agreements and the sale of audiovisual rights.
The Red Bull team managed to keep its 35 regular sponsorsthat They report income from 314.5 million euros per year.
At the same time, Mercedes obtains through its sponsors up to 323.5 million euros per seasonof which 70 million correspond to the agreement with Petronas as main sponsorIneos remains the third largest sponsor, with an annual investment of 50 million euros. The biggest sponsor, with 95 million euros a year, is Mercedes itself..
Ferrari The tobacco company Phillip Morris closes the podium as the largest investment with 35 million euros per yearwhile HP does the same with 36 million euros per season. For its part, Shell pay thirty million by season.
Outside the top Three of them include other teams such as McLaren or Aston Martinamong others. The Woking-based British team has commercial agreements with 48 companies, which translates into sponsorship income of 262 million per season. Fernando Alonso and Lance Stroll’s team earns 192 million from its partners, among which the Saudi oil company Aramco stands out with 55 million.
Source: Ambito
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