The LEWIS HAMILTON Mercedes team spent a whopping £ 325 million to win the F1 title last season.
New figures in the team’s accounts show that the Silver Arrows have invested heavily despite a season of 17 races hit by Covid.
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Lewis Hamilton’s title win wasn’t cheapPhoto credit: Imago / Actionplus
However, this year the team went through a process of restructuring as F1 introduced a new cost cap of £ 115m, which excludes drivers’ salaries.
The numbers also show that Merc had sales of £ 355.5 million and an after-tax profit of £ 13.6 million.
Mercedes F1 boss Toto Wolff is quoted in the report: “In 2021 the team will continue to develop its financial sustainability by offering maximum competitiveness under the new financial regulations and diversifying and leveraging the team’s skills through applied science.” Classification.
“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.”
Perhaps the most important number for Mercedes in terms of F1 operations is that the car brand’s value has grown from $ 31.9 billion in 2013 to $ 49.3 billion in 2020.
In addition, the team received 19.2 percent of TV coverage last year. An estimated $ 5.873 billion in advertising revenue generation.
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Hamilton competes at the Spanish GP this weekend to improve on this season’s title defense.
After an impressive qualifying lap, he starts on pole – his 100th.
The Mercedes star won the Portuguese GP last week when he fought off Max Verstappen’s challenge.
His win gave him an eight point lead over Red Bull challenger Verstappen.
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