Lewis Hamilton’s team, Mercedes, invested an absolutely insane £ 325 million to make sure their number one driver won last season’s F1 title.
Lewis’ devastatingly expensive win ended a 17-race season that, like everything else in 2020, was severely hampered by COVID-19.
Last year, Mercedes had a staggering £ 355.5 million in sales, according to a report in The Sun.
However, thanks to the mega-budget they granted Hamilton and Co., they made a comparatively smaller profit of £ 13.6 million after tax.
Let’s hope they enjoyed last year’s surplus while they could because they won’t repeat it.
Thanks to F1’s new £ 115m cost cap (which excludes payment to drivers), the team with Hamilton’s high spending had to change something this year.
Toto Wolff, Mercedes F1 boss Honcho, had the following to say in the team’s figures report:
“In 2021, the team will continue to develop its financial sustainability by achieving maximum competitiveness under the new financial regulations and diversifying and leveraging the team’s skills through the Applied Science department.
“With multiple revenue streams throughout the year, the company continues to be able to maintain profitability and meet all financial commitments.
“A prudent approach to any potential business impact will continue and contingency plans will be reviewed regularly to mitigate the business impact of the virus.”
Hamilton competes in the Spanish GP today as he continues his work to strengthen a successful title defense this season. Hamilton starts from pole position and has left last week’s Portuguese GP victory behind when he managed to oust current arch-rival Max Verstappen.
The Portuguese GP marked Hamilton’s 97th Formula One win. Although Verstappen had an advantage for most of the race, he ultimately fell behind Hamilton. When asked for his thoughts on the race, Hamilton said:
“I really had to try to position myself as well as possible, I can’t remember. I think Max made a mistake at some point on the lap that was perfect and I knew this would be the lap that I did was. ” I’ll be as close as possible to him in the final sector.
“And then I had to take the step early with Valtteri before the tires were destroyed and managed to get him only when switched on, but right at my limit.
“The next few days are all about recovery. Lots of debriefings, obviously a lot to download from today – there are improvements we can make.
“Everything wasn’t perfect today, so let’s look at these areas and try to turn the stones over.”
The Portuguese win has allowed Hamilton to extend an eight point lead over next challenger, Verstappen.
If the Red Bull ace wants to get anywhere near Hamilton’s trophy as well as a wild £ 40m salary, it may well succeed or break today.
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