What factors influence the salaries of Formula 1 brands?
Formula 1 is a sport that moves millions around the world where every year a total of approximately 1 billion is distributed by all the teams in the competitions. Companies spend an indigent amount of money on car repairs and upgrades. However, all the salaries paid to the brands, not only depend on the results on the track, there are multiple other factors such as seniority, contribution to the championship or relevance. Firstly, as is obvious, brands are rewarded for results on the track. Depending on the podium finish in each championship, teams can receive between 61 and 13 million dollars. The highest paid companies for their results last year were Mercedes with 61 million, Red Bull with 52 million and Ferrari with 41 million dollars. Another factor is the so-called Pact of Concord, a pact signed in 2013, where the previous year in 2020 it was re-signed again, is a contract that is signed between the teams, Formula 1 and the International Automobile Federation. It...