How Much Does A Formula 1 Car Cost?
There is one question that anyone who has ever seen a Grand Prix asks: How much does a Formula 1 car cost? While there isn’t a straightforward answer, the top team spend $14-15 million USD to build their cars for each F1 season.
There are a lot of moving parts (pun fully intended) to how much an F1 car is worth as the amount of development on each part (and therefore the overall cost) can change from team to team.
F1 car costs are notoriously high, with teams spending vast sums of money to develop and produce their cars. The cost of an F1 car is determined by a number of factors, including the components used, the production process, and the financial aspects of F1 racing. For example, the cost of developing a new engine can run into the tens of millions of dollars, while the cost of producing a single car can be as much as $14 million or more.
Despite the high cost of F1 cars, teams are constantly looking for ways to improve their performance while keeping costs under control. This involves a delicate balancing act between cost efficiency and depreciation, as well as ongoing efforts to develop new technologies and improve existing ones. In the following article, we will take a closer look at the financial aspects of F1 racing, including the cost of F1 cars, the components used to build them, and the ongoing process of F1 car development.
Key Takeaways
- F1 cars are one of the most expensive vehicles in the world, with estimates ranging from millions to tens of millions of dollars.
- The cost of an F1 car is determined by a number of factors, including the components used, the production process, and the financial aspects of F1 racing.
- Despite the high cost of F1 cars, teams are constantly looking for ways to improve their performance while keeping costs under control.
F1 Car Expenses
Formula 1 is one of the most expensive sports in the world, and the cost of an F1 car is no exception. The cost of an F1 car can vary depending on the team and the season, but it is estimated that the average cost of an F1 car is around $14-15 million.
F1 Car Cost Breakdown
The cost of an F1 car can be broken down into several categories, including the chassis, engine, transmission, and electronics. The chassis is the most expensive part of the car, accounting for around 30% of the total cost. The engine and transmission account for around 25% each, while the electronics account for the remaining 20%.
F1 Car Maintenance Cost
Maintaining an F1 car is also expensive, with teams spending millions of dollars each year on maintenance and repairs. The cost of maintaining an F1 car includes the cost of replacement parts, testing, and travel expenses.
In conclusion, the cost of an F1 car is significant, and the cost of running an F1 team can be even more expensive. While the cost of an F1 car can vary depending on the team and the season, it is clear that Formula 1 is one of the most expensive sports in the world.
Components and Production
Formula 1 cars are the pinnacle of motorsport engineering and design. They are the result of years of research and development, and their components are some of the most advanced in the world. The cost of an F1 car is a closely guarded secret, but it is estimated to be around $15 million per car.
Formula 1 Car Components
An F1 car is made up of thousands of components, each designed to perform a specific function. These include the chassis, suspension, aerodynamics, brakes, and tires. The chassis is the backbone of the car and is made of carbon fiber, which is strong and lightweight. The suspension is designed to keep the car stable and to provide a smooth ride. The aerodynamics are crucial to the car’s performance, as they determine how the car moves through the air. The brakes are made of carbon fiber and are designed to stop the car quickly and efficiently. The tires are specially designed for F1 racing and are made of soft rubber to provide maximum grip.
F1 Engine Cost
The engine is the heart of the F1 car, and it is also the most expensive component. The cost of an F1 engine is estimated to be around $10 million. The engine is a hybrid power unit that combines a V6 turbocharged engine with an electric motor. The engine produces over 1,000 horsepower, which is more than ten times the power of a regular car engine.
F1 Car Manufacturing Costs
F1 car manufacturing costs include the cost of materials, labor, and equipment. The cost of materials includes the cost of carbon fiber, which is used to make the chassis and other components. The cost of labor includes the cost of skilled engineers and technicians who design and build the car. The cost of equipment includes the cost of machines and tools used in the manufacturing process.
F1 Tyre Costs
The cost of F1 tires is also a significant expense for teams. The tires are specially designed for F1 racing and are made of soft rubber to provide maximum grip. The cost of F1 tires is estimated to be around $400,000 per year for a top team.
F1 Car Design Cost
The cost of designing an F1 car is a significant expense for teams. The design process includes research and development, wind tunnel testing, and computer simulations. The cost of designing an F1 car is estimated to be around $100 million per year for a top team.
Financial Aspects of F1 Racing
F1 Racing is a sport that requires a significant amount of financial investment from various entities. In this section, we will explore the financial aspects of F1 Racing and the impact it has on the sport.
F1 Racing Financials
The financials of F1 Racing are complex, and it involves multiple entities such as the FIA (Fédération Internationale de l’Automobile), F1 teams, race organizers, and sponsors. The FIA is responsible for regulating the sport and setting the rules and regulations. The F1 teams are responsible for designing and building the cars, hiring drivers, and competing in races. Race organizers are responsible for hosting races and managing the logistics of the event. Sponsors provide financial support to the teams and the sport.
F1 Sponsorship
Sponsorship is a significant source of revenue for F1 teams, and it helps them cover their expenses. Sponsors can provide financial support, technical support, and marketing exposure to the teams. The amount of sponsorship money a team can secure depends on various factors such as their performance, brand value, and marketability.
Cost of F1 Race Entry
Each F1 team must pay an entry fee to participate in the championship. The entry fee varies depending on the team’s performance and the number of races they will participate in. In 2022, the entry fee ranged from $556,509 to $1,450,000.
F1 Driver Salary Impact
The salaries of F1 drivers are one of the significant expenses for the teams. The top drivers earn millions of dollars per year, and their salaries can impact the team’s budget significantly. Two-time World Champion Max Verstappen is currently the highest paid driver, bringing in $55million USD per season from Red Bull Racing.
Formula 1 Team Expenditure
F1 teams have a significant expenditure in various areas such as car development, personnel, logistics, and travel. The cost of car development is one of the most significant expenditures for the teams, and it can range from $100 million to $500 million per year.
Cost Trends in F1
The cost of F1 Racing has been increasing over the years, and it has become a concern for the sport. The FIA has introduced various cost-cutting measures such as limiting the number of personnel allowed at races, standardizing some parts of the car, and reducing testing.
F1 Car Cost Analysis
The cost of an F1 car can vary significantly depending on the team and the year. The cost of designing and building an F1 car can range from $10 million to $30 million. The cost of operating an F1 car can range from $1 million to $5 million per race.
Formula 1 ROI (Return on Investment)
The ROI of F1 Racing can vary depending on the entity involved. For teams, the ROI depends on their performance, sponsorship deals, and prize money. For sponsors, the ROI depends on the exposure and the brand value they receive from the sport.
Impact of Regulation on F1 Costs
The regulations and rules of F1 Racing can impact the cost of the sport significantly. For example, the introduction of hybrid engines in 2014 increased the cost of car development significantly. The regulations can also impact the competitiveness of the teams and the sport.
F1 Car Cost Comparisons
The cost of F1 cars can vary significantly depending on the team and the year. For example, the cost of the 2022 Mercedes F1 car is estimated to be around $30 million, while the cost of the 2022 Haas F1 car is estimated to be around $10 million. The cost of the F1 car is influenced by various factors such as the team’s budget, car design, and technology.
In conclusion, F1 Racing is a sport that requires a significant amount of financial investment from various entities. The financials of F1 Racing are complex and involve multiple entities such as the FIA, F1 teams, race organizers, and sponsors. The cost of F1 Racing has been increasing over the years, and it has become a concern for the sport. The FIA has introduced various cost-cutting measures to address this issue.
F1 Car Development
F1 Car Development is a complex process that involves a lot of research and development (R&D) to create a vehicle that can perform at the highest level of motorsport. The cost of developing an F1 car can be staggering, with some estimates putting the figure at over $500 million. This cost is due to the high level of technology and innovation required to create a car that can compete at the top level of motorsport.
F1 R&D is a crucial part of the development process, as it allows teams to test and refine their designs before they are put into production. This process can take years and involves a lot of testing, both on the track and in the wind tunnel. F1 teams also use computer simulations to test their designs, which can help to save time and money.
F1 Car Technology Cost is another important factor in the development of an F1 car. The cost of the technology used in an F1 car is often very high, as teams use cutting-edge materials and components to create a vehicle that is both fast and reliable. For example, the engines used in F1 cars are some of the most advanced in the world, and can cost millions of dollars to develop.
Overall, F1 Car Development is a complex and expensive process that requires a lot of time, money, and expertise. However, the end result is a vehicle that is capable of competing at the highest level of motorsport, and that can push the boundaries of technology and innovation.
Cost Efficiency and Depreciation
Formula 1 is known for being a costly sport, with each team spending millions of dollars on research, development, and manufacturing of their cars. However, there are ways to improve cost efficiency and reduce the financial burden of competing in F1.
One way teams can improve cost efficiency is by sharing resources, such as wind tunnels and simulators. This allows teams to split the cost of these expensive tools and reduce the overall cost of development. Additionally, teams can reduce costs by outsourcing certain aspects of car manufacturing, such as the production of non-critical components like steering wheels and pedals.
Despite these cost-saving measures, F1 cars still depreciate rapidly. A new F1 car can cost upwards of $10 million, but its value drops significantly once it is used in a race. After just one race, the car’s value can drop by as much as 20%. This rapid depreciation is due to the constant updates and improvements made to the cars throughout the season, making older models obsolete.
Comparing the cost of an F1 car to a street car is difficult, as the two are vastly different in terms of performance and technology. However, it is estimated that the cost of an F1 car is equivalent to the cost of around 200 high-end street cars.
In conclusion, while F1 teams can improve cost efficiency by sharing resources and outsourcing certain aspects of car manufacturing, the rapid depreciation of F1 cars remains a significant financial burden. The cost of an F1 car is difficult to compare to a street car, but it is clear that the cost of an F1 car is significantly higher due to its advanced technology and performance capabilities.
You may also want to learn how to watch Formula 1 for free too.
How much does a Formula 1 car cost?
After stretching your imagination, you might have put it at two or three million dollars. You would be wrong by a long way.
Building a car from scratch costs the F1 teams well over $14 million US dollars.
And this only covers the expense of the main components of the average Formula One car, as it is very difficult to account for the cost of the engineering and design that goes into the production of these components, following the mechanic of EpicVin.
Why do Formula 1 cars cost so much?
Although the cost of the main components of a Formula One car can come to over 14 million dollars, constructors try to mask the total in order to avoid penalties by the FIA (Fédération Internationale de l’Automobile).
For example, the FIA has put a ceiling on the cost of an F1 car engine at $15 million. But the engine of the car is not only the engine block.
It has five other ancillary components. The components are together called a power unit. Constructors only reveal the cost of the engine block.
Research and development is a continual process. Even as the cars are competing today in the 2023 Formula 1 season, engineers will be developing cars for the 2024 Formula 1 season.
Companies developing road cars also do research and development. But they sell hundreds of thousands of cars of a single model. On the other hand, an F1 team can use just two cars per season.
The top three teams reportedly spent close to the $145 million cost cap to race in 2022, while some smaller teams will still struggle to ever reach that amount. All teams, big and small, will naturally want to cover as much of this amount as possible through sponsorship.
The recovery of this large amount depends on only one factor: the performance of the teams Formula One car. If the performance of the car is not good enough, even very good drivers will not be able to score points in a Grand Prix.
The FIA has also been making changes in the rules governing the expenditure of the teams.
From 2022, rules that were originally slated to come into place from 2021 (before Covid-19 hit) are aimed at significantly reducing the costs of building an F1 car, to help level the playing field between manufacturers.
The signing of the Concorde Agreement by all racing team managers will also help smaller teams to compete with their more wealthy adversaries.
What do the different components of an F1 car cost?
F1 cars are open-wheeled, open cockpit, single-seat, rear-wheel driven vehicles specifically designed to participate in Formula One racing competitions, and they have to meet the specifications outlined by the FIA.
The F1 car is made up of two main components; the chassis and the power unit. The chassis is the framework of the F1 car to which all the other parts are attached.
The power unit is the heart of the car. It generates power and will determine how fast an F1 car will go while consuming the minimum amount of fuel. The efficiency of the power unit will often determine the success of the team.
There are various components and systems like the front and the rear wings, monocoque, gearbox, steering wheel, hydraulics, control systems, cooling systems and others.
How much does an F1 car chassis cost?
All ancillary parts are attached to the chassis. It is a one-piece structure that is subject to various tests to determine its strength, rigidity and ability to bear stresses.
Formula One uses a monocoque chassis which also includes the driver’s protective shell. A monocoque chassis is virtually indestructible and provides safety to the driver in extreme conditions.
The monocoque is constructed from a composite carbon fibre that is twice as strong as steel and lighter by 5 times. It is typically made out of 12 layers of carbon fibre mats.
A carbon fibre monocoque can weigh as little as 35 kg and withstand the tremendous stresses arising from aerodynamic loads and cornering speeds.
But a monocoque chassis has to support the load of other components of the car bolted to it. The permitted weight of an F1 car is 633 kgs including the driver and tyres but without any fuel in the car.
The average price for a carbon fibre monocoque or chassis, along with the halo structure protection for the driver, can be a minimum of $1,200,000.
How much does an F1 engine cost?
All Formula 1 cars use 1600cc turbocharged V6 engines which have been introduced since the 2014 F1 season.
Since then the engines have been developed continuously to get the maximum power output out of them. In fact, today’s F1 cars produce more power while consuming less fuel than the previously used V8 engines.
When we talk of an F1 car engine, we are not just talking about the engine block. The heart of the power unit and it.
A power unit has six components. They are the internal combustion engine (ICE), the turbocharger (TC), Motor Generator Unit-Kinetic (MGU-K), Motor Generator Unit-Heat (MGU-H) constitute four components. The Energy Store (ES) or batteries and Control Electronics (CE) complete the components.
The ICE with the assistance of the TC, turning at a maximum of 15000 revs per minute, produces an output of 700 bhp. An F1 driver is allowed to use only five elements of the power unit. Using a sixth will lead to penalty points.
The MGU-K (which salvages energy when braking) and the MGU (recovers energy from the exhaust heat) store energy in the ES (battery) and contribute another 300 bhp when the car is accelerating on a straight.
The driver of an F1 car is permitted to use only five components of the power unit at any one time.
In case he uses the sixth unit during a Grand Prix, he is liable for a penalty that will affect both the driver’s and the constructor’s rankings.
The control electronics of an F1 car helps the driver and his team monitor around 1000 sensors transmitting millions of bytes of data.
The electronic control box is located just millimetres away from the exhaust box and the wires and the electronic components need to be protected from the heat.
So when we are talking about the cost of an F1 car engine, we are talking about the Power Unit and not the internal combustion unit alone. A new engine starts at a minimum of $11,000,000.
The high Formula 1 car costs are why we no longer have engine manufacturers such as Cosworth involved in the sport, and the cost of Ford repair parts are said to have ended their involvement in engine building too.
How much do the front and rear wings of an F1 car cost?
Formula One is raced at speeds of 300 kph during a Grand Prix which is more than the take-off speed of light aircraft.
With that kind of speed, the car would have very little purchase on the tarmac and the drivers would lose control of the car without a rear or front wing as part of the normal body structure.
At the same time, cars travelling at those speeds and higher would experience considerable drag due to wind resistance. This drag would affect the speed and the fuel consumption of the cars.
The front and the rear wings play a major role in providing the car downforce to keep the car firmly grounded on the track so they can produce good speed.
The front wing, which is the foremost part of the car and, along with the nose cone, directs the air away from the front tyres and around the car.
It is also designed pointing downwards producing an effect opposite to that created by the wings of an aircraft increasing the downforce on the car.
This alignment of the front wing creates downforce. Both the nose cone and the front wings are designed together.
The rear wing reduces the turbulence in the wake of the car reducing the drag as well as provides downforce. It also has the DRS overtaking aid.
The rear wing reduces the air drag on the car while also producing a part of the downforce. It also helps to maintain the balance of the car.
If a car loses the rear wing while racing it will lose nearly all downforce, and become incredibly difficult to drive.
At maximum speed, an F1 car can produce a downforce of 5G. That means 5 times the weight of the car is pressing down on the tarmac.
This helps the car get a better grip on the track and prevents it from losing grip in the turns. The driver can control the downforce by aligning the wings from the steering wheel.
The front wings of a Formula One car along with the nose cone will cost $300,000 while the rear wing will cost about $150,000. This is the average cost and it can vary on the specification of the wings.
How much does a Formula 1 gearbox cost?
Formula 1 cars use highly sophisticated semi-automatic seamless shift gearboxes that are highly automated for better performance (though this keeps gearbox costs higher), and are required to have eight forward gears and one reverse gear.
A differential connects the gearbox with a set of gears. A drive shaft transmits the power to the rear wheels which drive the car.
Formula One car drivers use flappy paddles located on the underside of the steering wheel to shift through gears.
The average cost of an F1 car gearbox will be $600,000. The gearbox cost maximum could vary on the specifications of the driver and car design.
How much does a Formula 1 fuel tank cost?
Many accidents in Formula One races have turned from merely an accident to fatal due to rupturing fuel tanks and the fuel catching fire, leading to many deaths in F1. Today’s F1 fuel tanks are nearly indestructible, and teams are no longer required to refuel during a race which helps prevent major fire damage.
Fuel tanks now used in F1 cars are made from Kevlar and polyurethane. They are installed between the driver’s seat and the engine.
The fuel bags, if you may call them that are ribbed and shaped to fill the spaces behind the driver’s seat. They are attached to the back of the drivers seat to prevent them from collapsing as the fuel drains from them.
An F1 car tank can carry only 110 litres of fuel as per the FIA stipulations. The fuel tank is wider at the bottom in order to keep the centre of gravity of the car lower.
A new fuel tank designed to fit in the space behind the driver’s seat is around $150,000, with a lot of the fuel tank cost being absorbed by the costs of the kevlar.
How much does a Formula 1 steering wheel cost?
F1 steering wheels are constructed from carbon fibre and have silicone grips. An array of buttons and a colour screen allow the driver to control every function in the car.
The special steering wheels has to be detached from the steering column to enable the driver to get out of the cockpit and into it. A driver has to be able to detach and attach the steering to the column in under 5 seconds.
To connect the steering wiring to the main car’s, a special connector is built into the column. The male connector of the main car wiring fits into the column connector without a risk of the connectors misaligning.
Unlike in a streetcar, if drivers want to shift from the fifth gear to the third, they have to go through the fourth gear.
A clutch on the lower right of the steering wheel (underside) is used only when starting from a standstill.
There is also a neutral button just above the upshifting pedal on the left. Before shifting to neutral the driver has to press this switch.
Besides the gear-shifting paddles, there are innumerable switches on the steering wheel, and a colour screen is attached to the centre to give drivers a visual display.
Unlike a road car, the wheel of an F1 car is more rectangular in shape with rounded sides. Around the centre of the rectangle are the switches, a central screen and dials at the bottom.
Most drivers can control more than forty functions throughout the car other than manipulating the gears.
A formula 1 steering wheel will set f1 teams back $70,000.
How much does the hydraulic system of an F1 car cost?
A complex hydraulic control system controls nine subsystems in an F1 car. With modern-day hydraulics, the number of mistakes that a driver can make is greatly reduced.
The steering can be power-driven and a hand changing clutch could be fitted on the steering wheel because of the hydraulic system.
The hydraulic control system also made it possible to change gears by hand by having a switch on the steering wheel.
The driver can also control the DRS system from the steering wheel because of the hydraulic system.
Along with the complexity of a system, the cost of implementing it also increases. In return, you get actual control, convenience, and performance.
An F1 hydraulic system costs a minimum of $200,000.
How much does a set of F1 car tires cost?
Unlike street car tyres which last for 7000 km or more, Formula 1 car tyres barely last 120 kilometres. Drivers change car tires in their pit stops during the race after extracting the maximum limit of tyre degradation.
Formula 1 drivers choose tyres of different hardness for different track and weather conditions. In dry conditions on tracks with good grip, drivers would like to use hard and slick tyres.
In wet conditions, softer and treaded tyres would be preferred to prevent aquaplaning. Treaded tyres are used for wet conditions and are classified as intermediate for light standing water and wet for heavy standing water.
Tyres are made from different compounds and are classified as hard, medium and soft among slick tyres for dry conditions.
Pirelli is the official supplier of tyres for all the teams participating in the 2021 Formula 1 season. Each set of tyres will cost the team $2,000.
And then there is the cooling system, the driver’s seat and the suspension, all of which cost a pile of money.
Why are Formula 1 cars so expensive?
How much does an F1 car cost? Well, 14 million dollars will get the components of an average Formula One car. You will have to put fuel in the tank to drive the car.
However, the good news is that thanks to the FIA Technical Regulations, the fuel used in an F1 car has to be similar to the fuel we all buy at the petrol station.
The cost of an F1 car is a closely guarded secret among racing teams. That is not only because of the competition but also because of the limit on expenses imposed by the FIA.
Throughout the season teams upgrade parts, and major damage from a single mistake can also increase costs during the world championship.
It is virtually impossible to account for the people-hours that go into the research, design and testing of each important component of the car. That makes putting an exact price on an F1 car difficult.
| Car Component | Approximate Cost USD |
|---|---|
| Monocoque/Chasis | 1,200,000 |
| Power unit/Engine | 11,000,000 |
| Front Wing with Nose Cone | 300,000 |
| Rear Wing and DRS Overtaking Aid | 150,000 |
| Gearbox | 600,000 |
| Fuel tank | 150,000 |
| Steering Wheel | 70,000 |
| Hydraulic System | 200,000 |
| Transmission | 250,000 |
| Tyres | 2,000 |
| Braking system | 30,000 |
| Driver's seat and suspension | 48,000 |
| Total Material Cost | 14,000,000 |
How Much Does A Formula 1 Car Cost? – Stats and Facts
- The cost of a Formula 1 car can vary widely, but on average, it can range from $10 million to $15 million.
- Each Formula 1 team typically builds multiple cars for the season, resulting in significant expenses.
- The high cost is primarily due to the advanced technology and engineering involved in designing and manufacturing these cars.
- Formula 1 teams have large budgets allocated for research and development, further driving up the cost of the car.
- The parts used in a Formula 1 car are often custom-made and require specialized manufacturing processes, contributing to their high price.
- Engine manufacturers play a crucial role in determining the overall cost of the car, as engines alone can cost several million dollars.
- Manufacturing costs are not only limited to building the car itself but also include expenditures on testing, aerodynamics, and electronics.
- Teams constantly invest in upgrades and modifications throughout the season, adding to the overall cost of maintaining a competitive car.
- Sponsorship deals and partnerships with various companies help teams offset some of the expenses associated with running a Formula 1 team.
- Despite their high price tag, Formula 1 cars are considered valuable assets for teams as they serve as powerful marketing tools and help attract sponsors.
- The engine alone accounts for about 46% of the total cost of a Formula 1 car.
- Each year, teams spend an average of $2.8 million on tires for their cars.
- The cost of developing and manufacturing the aerodynamic elements of a Formula 1 car can reach up to $6.3 million.
- In terms of weight, Formula 1 cars are made up of approximately 3,263 individual components.
- It takes an average of 45,000 hours to build a single Formula 1 car from start to finish.
- The average lifespan of a Formula 1 car is around five races before major component replacements are required.
- During a Grand Prix race weekend, a team will go through an average of 245 liters (65 gallons) of fuel in one car.
- Formula 1 cars can reach speeds of up to 231 miles per hour (372 kilometers per hour) on certain tracks.
- Teams typically spend around $11 million per season on research and development for their Formula 1 cars.
How Much Does A Formula 1 Car Cost? – FAQs
How much does an F1 car cost?
The cost of an F1 car can vary widely, with some people claiming it can be anywhere between $10 million to $20 million USD. More accurate estimations put the figure at $14-15 million USD.
However, the overall budget of an F1 team may be much higher, as they may spend up to $145.6 million (just adjusted for higher transportation costs plus inflation) in a single season. To regulate the cost of F1 teams, a cost cap was introduced in 2021, ruling that teams could only spend up to $175 million on matters directly relating to performance. This was reduced to $145.6 million from the 2022 Season onwards.
Is the cost of an F1 car only for the car itself?
No, the cost of an F1 car includes various other expenses, such as research and development, testing, and maintenance.
What factors contribute to the cost of an F1 car?
Some of the factors that contribute to the cost of an F1 car include the materials used, the technology incorporated, and the level of customization required.
Do all teams have the same budget for their F1 cars?
No, different teams have different budgets and some teams may have more resources than others. The cost cap was reduced to $145.6 million in the 2022 season, however, not all teams had the funds to spend up to their limit.
Do teams have to pay to participate in F1 races?
Yes, teams have to pay a significant amount of money to participate in F1 races, including entry fees, travel expenses, and other costs associated with being a part of the F1 circuit.
Does the cost of an F1 car change from year to year?
Yes, the cost of an F1 car can change from year to year due to various factors, such as changes in regulations, the cost of materials, and advancements in technology.
Can smaller teams afford to compete in F1 races?
It can be challenging for smaller teams to compete in F1 races due to the high costs involved. However, some teams receive funding from sponsors or partnerships, which helps offset the costs of participating in F1 races.
How much is Formula 1 worth?
The worth of Formula 1 as a whole is estimated to be over $8 billion USD
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