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Breaking Down the Costs of Racing in Formula 1: Is Spending Out of Control?
Published: January 19, 2014
So, how can we reconcile these two, apparently conflicting, realities?
To do so, there are two areas that must be considered: the teams' spending and the goals of the sport's commercial rights holders.
The first reason for F1's financial health problems is the amount currently spent by the teams to go racing. By any reasonable measure, the costs to compete in modern F1 are ridiculous—but then, F1 has always been about excess.
For reference, here are the estimated 2013 budgets for each team, according to Autosport's Dieter Rencken (paywall protected):
The cost seems to be close to £100 million just for regular points finishes (Williams excepted), even now that the top 10 finishers score in each race. (If you are interested in exactly where all that money goes, here is a breakdown from NBC Sports, comparing F1 and IndyCar costs.)
However, the teams cannot really be blamed for the increase in spending. Their mandate is to win, and in pursuit of that goal, they will spend whatever money is available to them. They always have and they always will.
Even if one area of spending is restricted—as is now the case with, for example, hours of operation for team wind tunnels—the teams with the money will find another way to spend it. Therefore, the only way to effectively rein in costs is for the FIA to implement a hard spending cap and to police it vigilantly.
For the 2015 season, the FIA has announced that a cap will be in place. Whether it will be set at a reasonable limit and whether it can be effectively monitored are the two biggest question marks in determining the ...
Article Source: Bleacher Report - Formula 1
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