What do the teams spend their budgets on?



                                              Image

F1 is not just about drivers and cars that can reach 300 km/h. There is a huge team behind each team, who are in charge of making sure that the whole team works and has the best car for each race.


PERSONNEL COSTS

As you would expect, part of the budget is dedicated to paying the salaries of the staff.

In this section we will include the salaries of the drivers, reserve drivers, team managers, engineers and mechanics, team staff, etc....

In order to get an idea of how much all these salaries can cost the teams, we can say that for example, Lewis Hamilton, reigning world champion, earns a total of 44,384,000 euros per year. On the other hand, we can find teams such as Mercedes or Ferrari, where more than 1000 people work. We can also find other teams, such as Haas, a team that subcontracts all the services in order to minimise the number of workers within the team.

THE MATERIAL

Creating a car that can reach 300km/h is neither easy nor economical, as any part of the car has to withstand very high temperatures and high speeds. For this reason a front spoiler costs about 150.000 euros, the steering wheel about 50.000 euros, the rear spoiler another 153.00 euros, the cooling system 155.100 euros, the gearbox 454.500 euros and the propulsion system more than 7.000.000 euros.

TRIPS AND STAYS

As we know, a total of 22 Grand Prix were held around the world in 2021. A total of 22 trips that have to take the entire work team, the parts of the cars or the single-seaters themselves, apart from paying for the stay and allowances of all the workers. Each team has its own comforts and differences, but as we can imagine, they also spend several million a year in this sector. 


Do you think that races should be shorter in order to reduce the investment in car maintenance and to reduce the number of days of racing? 



 

Comments

  1. abota17 November 2021 at 02:45

    Even though I am not a big fan of Formula 1 because for me races lasts too long and then it starts to be boring to watch cars racing for such a long time. I think races should not be shorter to reduce the costs because enough money is spinning in F1 and it is not that necessary to reduce the costs that way. Moreover, it would not be the same and for the people who are watching F1 live and paying such an expensive ticket or fans watching it on TV don't think that it is too long and enjoy watching it.

    ReplyDelete
  2. nobody knows21 November 2021 at 03:26

    I do not think races races should be shorter or reducing the days would solve any problem. In my opinion, the problem lies deeper, why would you seek to reduce costs when instead you can go and try to increase the budget? F1 should try to get more people involved, and gain more fans by investing more in marketing. However, it is also important to remind ourselves that F1 is a very exclusive sport, not only it takes to own a car, but rather, to drive very unique and expensive ones, it is not soccer when the only thing needed is a ball and a court.

    ReplyDelete
    Replies
    1. Joan Montoriol21 November 2021 at 03:48

      I agree with you. What football makes to be the most following sport in the world, is that everybody can practise this sport. In formula1 this is not possible. All you can do is going to karts but of course is not the same, and is very expensive to go. Otherwise in football all that you need is a ball, and people to practise. No more

      Delete
  3. The Paparazzi21 November 2021 at 05:01

    I don't think the races should be reduced. If these costs were to be reduced, it would mean a reduction in the time invested in the quality of these races, which is not at all the objective.There is a need for this money and I don't think that reducing it would be beneficial for Formula 1.

    Morgane DOUCET

    ReplyDelete
  4. Leroy21 November 2021 at 07:08

    Im not sure if I would shorten the races. Maybe by some rounds. I would like to see the sport more environmentally friendly in case of travels, the countries they drive in like Quatar or Abu Dhabi and of course the cars.
    I would say there are many points you mentioned where some things should be changed.

    ReplyDelete

Post a Comment

Popular posts from this blog

it's worth going to see a formula 1 race in person?

Image
                                  Participation at Formula 1 races has been significantly impacted during the 2020 season because of the rise of COVID-19, which implied that fanatics of the game needed to follow the opposition from their TVs at home. This opened up another discussion inside the game, is it truly worth going to watch a Formula 1 race face to face? We observed that this situation has effectively emerged in different games, like football, yet essentially in football you can see all that occurs on the pitch. In Formula 1, we see that participants can just see a little piece of the circuit.  The costs are pretty much reasonable in the majority of the races, in spite of the fact that it is yet an extravagance for a few. For instance, at the Barcelona circuit the most reasonable cost for a ticket is €90 just to go to on Sunday, the day of the race. We observed that the most costly ticket ...
Read more

GP MONACO

Image
If I ask you to tell me the name of a Formula 1 grand prix, I am sure that the Monaco GP comes to mind for many. Formula 1 would not be the same without this race on its calendar, to be exact on the last Sunday in May. This race is the race of glamor, tradition and danger. Driving fast without making mistakes on this very narrow circuit is a very difficult task, and overtaking ... almost impossible The circuit is located in the middle of the Principality of Monaco. The economic impact in the Principality, only the Formula 1 weekend, is more than 100 million euros. Many celebrities flock to the capital of Monaco every year to see the show first-hand. In the Monaco GP races were already held since 1929, but it was not until 1950 that the first official Formula 1 race was held. It did not return until 1955 and it was held every year until today except for 2020, which was canceled because of the Covid-19 pandemic. In Monaco they have won many legendary drivers such as Fernando Alonso...
Read more

McLaren and its first carbon fibre car

Image
McLaren has been one of the most famous and emblematic Formula 1 car brands for many years. It has spent a long life in the world of Formula 1 racing and has always been looking for technological breakthroughs to improve and innovate at all times. The creation of the McLaren MP4/1 car was a before and after in the history of the sport, where it could change the entire automotive trajectory. It was the first racing car created with carbon fibre. This project was started by John Barnard in 1979. They were in a very stagnant situation where they were under a lot of pressure and their results in the races were not the most adequate. Barnard wanted to innovate, so he decided to change the chassis from the usual aluminium to carbon fibre, which could help them to be stronger and lighter, although the only flaw was that it was extremely expensive. The construction of the MP4/1 was carried out in the 80's by the company Hercules Aerospace where thanks to them they were able to compete the ...
Read more