Ferrari are reportedly the highest spending team in Formula 1 at the moment, if we are to trust a financial report issued by “Business Book GP” and brought in front of the media by Spain’s daily El Mundo Deportivo.
According to the aforementioned report, the Maranello based organization has a budget of EUR199 million for this season, approximately 6 times higher than the lowest-budget team in the 2011 series, Hispania Racing F1 Team (EUR 34 million).
Unfortunately, these are the only figures provided by the aforementioned publication, whose report notes that spending in the sport has been cut dramatically over the past couple of years. If the average annual team budget was around EUR 209 million back in 2009, it dropped to EUR 119 million the following year, reaching EUR 113 million in 2011.
And it seems that Max Mosley’s plan – when he was heading the FIA – to cut expenditures in the series worked, although there have been some other elements that contributed to the drop in average team budgets. High spenders such as Toyota and BMW have left the series in the meantime, while Renault has also withdrawn its financial support for the F1 operations.
On the other hand, small teams with low budgets have entered the series in the past few years, such as Team Lotus, Virgin and Hispania.
If the trend for the big teams has been to cut expenditures in the series, smaller teams now seem to spend more each year for their F1 operations. Such is the case of Team Lotus, who reportedly upgraded its budget for 2011, as compared to 2010, as well as Marussia Virgin and Sauber.
As far as championship big guns Ferrari, McLaren, Mercedes and Renault are concerned, half of their annual budget is being covered by money from sponsors.
Via | AutoEvolution