F1 stable Red Bull’s financial statements say the stable’s operations are expensive fun, but for the energy drink company, the investments are worthwhile.
From a report published by Autosport Red Bull Racing (RBR) ‘s costs last year were £ 237.3 million, or just over € 261 million. The amount is a couple of million less than a year earlier. The profit report is just over £ 600,000.
The explanatory factor for lower costs is starting a partnership with a new power source partner. Red Bull, which has a factory contract with Honda, does not pay for its power sources, unlike its former partner Renault.
After next season, Red Bull will have to look for a new engine supplier again as Honda withdraws from the F1 tracks.
In the case of Red Bull, RBR is not the only company to join the F1 team. The report shows that the company has only 59 employees.
The majority of job descriptions related to the operation of the stable have been transferred to Red Bull Technology (RBT). It is responsible for the design, construction and maintenance of Red Bull and second-team AlphaTaur cars. According to the financial statements report, 866 people worked in its ranks at the end of last year.
RBT’s turnover last year was £ 314 million, or just over € 346 million.
For years, Red Bull’s budget has been the third largest in the series after Mercedes and Ferrari.
For the energy drink company itself, the stable has served as a valuable marketing tool. The financial statements state that the parent company paid only £ 63 million for the operation of its F1 stables last year. Other funding for four-wheeler limp ads came from sponsors and as prize money.
Red Bull has participated in the F1 series with a team bearing its own name since 2005. The team won four world championships for drivers and manufacturers Sebastian Vettelin with 2010-2013.
Contractions in front
Red Bull needs to find ways to cut costs in the future. F1 is entering a new era, when the consumption of stables will be curbed with a budget ceiling.
Next year, a rule will come into force setting a maximum budget of $ 145 million. The amount is set to be further downwards in the coming years.
However, the budget ceiling is holey. The amount does not include, for example, the salaries of drivers and stable managers or marketing costs. this is feared to leave loopholes in the rule, which the stables exploit in their development work.