Formula One makes a whopping USD217 million per race event. At this rate it ranks behind NFL, but ahead of English Premiership. Experts say with new races planned in Asia and other parts of the world, F1 should become even fatter in the next few years.
Bernard Charles Ecclestone, CEO of Formula One Management company, is going to rank even higher on the list of Forbe’s richest people in Britain. This after it emerged that F1 makes USD217 per race event, on average, including circuit revenues from those who actually pay to watch, team revenues from sponsorships and other income streams, broadcast rights, corporate sponsorships etc.
The Sports Business Group at consulting group Deloitte conducted a survey into sports revenues which confirmed our earlier suspicions that F1 makes a trackload of money each time the 22 cars take to racing on the 18 circuits. "Global revenues of more than USD3.9 billion and total viewing figures in excess of 350 million for the 2007 season make impressive reading," says Alan Switzer, Director in the Sports Business Group at Deloitte.
The company expects that with possible new F1 heroes emerging from other countries like India, Russia and even China, these revenues will only appreciate. Also, the addition of night races will only heighten interest in the sport, and therefore bring in a new pool of money into it.