Filed under: Motorsports, Honda, Toyota, Earnings/Financials, Ferrari
F1 teams spent over $3 billion, Toyota the most
While we knew Formula 1 racing was an expensive venture, leave it to the 2008/2009 edition of Formula Money to spell-out the jaw-dropping finances for us. According to their latest guide, the supporting cast will shell out over $3 billion this year in team resources -- with Toyota dropping more than $445 million of it alone. McLaren is a close second at $433 million, while Ferrari rounds out the top three with $414 million coming out of pocket. If you take a look at team resources divided by points scored, each point cost Ferrari $1.9 million in 2007 (while each point cost Honda a staggering $57.2 million during the same period!). With the financial markets around the world roiled in turmoil, many are wondering when the F1 budgets are going to feel the pinch... Thanks for the tip, Keith!
[Source: F1 Fanatic]
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Reader Comments (Page 1 of 2)
stealthebeatles 5:41PM (9/22/2008)
I didn't know Toyota was in F1. That being said, I don't really follow it.
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tankd0g 8:03PM (9/22/2008)
Even if you did follow it, you'd be forgiven for not knowing they were there. All that money is going straight down the tubes.
Richard 5:42PM (9/22/2008)
The amount of money spent is staggering when we look at the world's economy, but in F1 if you don't spend you are left behind. Also is that picture from Gran Turismo?
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Neil 6:49PM (9/22/2008)
Its a real photo I think. Not too many video games gonna have Marlboro livery in them these days.
AZZO45b 8:38PM (9/22/2008)
but in F1 if you don't spend you are left behind.-Richard
Toyota is at the top of the $$$ list yet WHERE are they in the FIA Constructors standings? NOT in the top 3 & their drivers are not even CLOSE in the WDC ...
...so spending the MOST (for many F1 seasons) has done nothing to move them up with McLaren, Ferrari or BMW!
If these $$$ figures can believed... Formula Money's publishers have been branded "tabloid" by some F1 insiders.
R 4:43AM (9/23/2008)
@richard
It is? That's a fraction of what our bank bailout will be for the US...$700 billion was it? I think Iraq has cost us about $700+ billion, too.
P B 5:59PM (9/22/2008)
Good god, what is Toyota even spending that money on anyway?
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hashiryu 6:56PM (9/22/2008)
They just completed a second wind tunnel this year.....
AZZO45b 8:44PM (9/22/2008)
Good point. Williams GP, using "customer" Toyota motors were outclassing the factory team earlier this season. The Italian GP performance had Williams as the top Toyota powered car again...
Kitko 6:05PM (9/22/2008)
OK, so Toyota and Honda cannot turn the money spent to points earned. But they do sell huge amounts of reliable cars to the common folks. Ferrari, on the other hand, makes only a handful of cars every year, and their service intervals and reliability is nothing to write home about. OK, I know there's parent Fiat and that I went overboard.... :-)
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BILL 6:32PM (9/22/2008)
If F1 teams find themselves falling a little short next year there is no reason they cannot be bailed out by the U.S. government. F1 is too big to fail.
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Cameron 7:40PM (9/22/2008)
Bailouts FTW!
xez 12:25AM (9/23/2008)
Let's see, all the F1 teams can race for one year or you can do like the USA: spend the same amount for 9 days in Iraq.
Such a deal! And what does the USA get for the money? Nuthin'! woohoo!
MachinaDC5 6:56PM (9/22/2008)
Honda spent $398.1 million dollars and their car's still slow. :( Maybe in a few years, boys.
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Giuseppe 7:00PM (9/22/2008)
$57.2 million/point? How did Honda sink so deep without realizing it?
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tankd0g 7:48PM (9/22/2008)
Jenson Button. Ok it's not all his fault but I find it hard to believe their cars are THAT bad. He can barely best his senior citizen teammate.
dcars 8:34PM (9/22/2008)
Billions to play follow the leader.
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pmiddle5 2:49AM (9/23/2008)
I feel bad about loving this sport when I see that much money "wasted" not helping the impoverished nations in the world.
Then I remember how much the USA spends on a single bomb or aircraft and it kinda makes me feel like F1 is insignificant
Such as the "9 days in Iraq comment". Kinda sad..
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Roslan 4:36AM (9/23/2008)
If only I can have some of this money :)
http://www.roslan-racing.com
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kfj 8:59AM (9/23/2008)
I wonder how Prius owners would feel knowing that their hybrids profit go to developing a race car that gets really bad mpg.
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