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Rob Lay (Rob328gts)
Board Administrator
Username: Rob328gts

Post Number: 1386
Registered: 12-2000
Posted on Monday, April 01, 2002 - 10:20 pm:   

Yes Nika, I heard the version of that "Racing made a millionaire out of me, I was once a multi-millionaire."
Nika (Racernika)
Member
Username: Racernika

Post Number: 376
Registered: 12-2001
Posted on Monday, April 01, 2002 - 8:26 pm:   

hahahah How do you make a million in racing? You start out with $10 million!

I remember reading about Luciano Benneton and him entering the F1 business - he actually MADE $$ with merchandising.

Sheeesh - Ernie - do have that Sultan's number?
Jack (Gilles27)
Junior Member
Username: Gilles27

Post Number: 77
Registered: 3-2002
Posted on Monday, April 01, 2002 - 7:17 pm:   

As far as Ferrari's budget, it breaks down as follows: $224.5m from Direct Cash (Marlboro-$87m, Fiat $85m, Vodafone $41m.) About $35m comes from Trade support (Shell, Magneti Marelli, etc.) and $43m comes from "Other" Incomes, which I interpret as merchandising. Michael Schumacher's 2002 salary is $32m, and just for kicks, his career earnings are a paltry $197 million. This doesn't take into account what he makes on licensing, which dwarves his salary.

Basically, this means that Ferrari is putting out about $85 million of their own money to go racing through FIAT. But remember Enzo's priority of building street cars to fund the racing...
Ken (Allyn)
Member
Username: Allyn

Post Number: 268
Registered: 10-2001
Posted on Monday, April 01, 2002 - 6:35 pm:   

Not that I know, but $302 mil from Ferrari??? I am surprised they have that kind of money. How much revenue do they make/lose from F1 when all's said and done?
Tim N (Timn88)
Member
Username: Timn88

Post Number: 617
Registered: 6-2001
Posted on Monday, April 01, 2002 - 6:29 pm:   

Man, was i off.
Jack (Gilles27)
Junior Member
Username: Gilles27

Post Number: 76
Registered: 3-2002
Posted on Monday, April 01, 2002 - 5:58 pm:   

2002 F1 Budgets (in millions $US)

Ferrari--302.4
McLaren--287.8
Renault--255.8
Toyota--238.4
BAR Honda--235.4
Williams--230
Jaguar--211.775
Jordan--190
Sauber--104.35
Minardi--83.45
Arrows--49.55

BretM (Bretm)
Intermediate Member
Username: Bretm

Post Number: 2090
Registered: 2-2001
Posted on Monday, April 01, 2002 - 5:48 pm:   

Schumacher makes approximately $35Million a year from Ferrari alone (forget endorsements), he was the highest paid athlete in the world last year.

The competitive teams spend upwards of $300Million a year to run the program. Ferrari and McLaren are the only two up in this range. The lowest recently was Minardi a couple years ago at about $55M (to get their butts kicked) so I would think Arrows is dishing out more than $50M. The winning NASCAR teams spend about $60M-75M a year to put Ferraris $300M into proportion. Approximately $100M comes from road car sales, the rest is from sponsors.
arthur chambers (Art355)
Member
Username: Art355

Post Number: 336
Registered: 6-2001
Posted on Monday, April 01, 2002 - 5:35 pm:   

Hugh:

those that use manufacturers engine get more than just an engine for that money. Hondas contract provides that they get an engineer and many other services. The teams do not get to take the motor apart, nor make any attempt to tune the engine. All work on the engine is done by the "engineer" supplied with the engine(s), and that goes for the practice days also.

The contracts are usually for the entire year, and covers blow ups, practice replacements, with specified amounts of practice that the engineers will be at, the amount of normal engine changes, and a certain amount of time to be spent upon making sure that the chassis works with the motor.

I am told, but have no independant facts that Honda's engines are built in England, not Japan, although many of the design engineers are Japanese.

The same sort of contract works for the Honda engines in the CART series, and something similar in the Superbike series in both the USA and World Superbike.

Lastly, the figures don't set forth Ferrari's expenditures, but I have heard those estimated at about 100 mil per car for a total of $200 per year. I'm told that Schumaker alone makes in excess of 28 Million per year and well worth every penny.

Art
Hubert Otlik (Hugh)
New member
Username: Hugh

Post Number: 31
Registered: 1-2002
Posted on Monday, April 01, 2002 - 3:44 pm:   

Well, F1 budgets are all in all very privledged information. However, the lowest bugdet on the grid is held by Arrows at an estimated annual amount of $50 million US dollars. Also, here is some information I scrounged up on the sponsorship expenditures in F1:

--------------------------------------------------

Honda are the biggest sponsors in Formula One�, pumping over $200 million into the sport,
according to a report published this month.
The figures, published by Formula 1 Magazine, rank Honda at the top of the sponsorship chart, with estimated spending of $210million on their F1 engine programmes with the Jordan and British American Racing teams.

The Honda figure is all the more remarkable, given that the Japanese company does not own a stake in either team, or provide them with financial assistance. However, they do have state-of-the-art Formula One facilities in both Britain and their home country, and also have engineers based with BAR at their Brackley factory.

Renault are the biggest team owners on the sponsor-spending list, ranking second behind Honda with a reported budget of $170million. As Europe's second largest car maker, the French firm are thought to be reluctant to have the names of too many other companies on their F1 machines.


Formula One newcomers Toyota come straight into the chart at number three, with a reported $140million in sponsorship. Rumours had suggested much higher figures for the Japanese team and it is thought they would indeed top the list if investment and marketing costs were included.

Other big names inside the report's top ten are McLaren partners DaimlerChrysler and Jaguar owners Ford, both spending an estimated $125million, with Williams engine suppliers BMW close behind on $115million. Meanwhile, the biggest sponsor for world champions Ferrari is tobacco giant Marlboro, who donate a reported $87million to the Italian team.

(Courtesr DailyF1.com)
--------------------------------------------------------------------------------

Also, some additional F1 expense facts,: for a new team to enter F1 it has to buy a new enterant bond paid to the FIA, which runs a cool $48 million. And, most top tier teams [Ferrari, BMW, etc.] use ~ 100 motors per year, at a price of $600,000 each! Yes, each! Nutty.

Lastly, w/ regard to engine costs, the teams that use manufactures engines, pay ~ $25-50 million just for powerplants, depending on the engine, manufacture, and number of motors provided.
Tim N (Timn88)
Member
Username: Timn88

Post Number: 613
Registered: 6-2001
Posted on Monday, April 01, 2002 - 3:38 pm:   

Hes got it made, he gets to drive one of the fastest things on wheels that can make a turn and he gets paid mad money to do it and he probably gets all types of girls. And to top it off he drives for ferrari.
Ken (Allyn)
Member
Username: Allyn

Post Number: 265
Registered: 10-2001
Posted on Monday, April 01, 2002 - 3:33 pm:   

Not to mention the ten million SALERY for Schumacher types.
Tim N (Timn88)
Member
Username: Timn88

Post Number: 611
Registered: 6-2001
Posted on Monday, April 01, 2002 - 3:24 pm:   

i remeber hearing on this board that its like 70 million. To put it in perspective, the engine on a CART car costs 5 million to lease and it comes with a mechanic and 30 rebuilds. Id venture to say that F1 engines are considerably more expensive. Then u have to take into account sending the car on an airplane to each race, and all the support elements too. They have so many expenses.
Terry Daniel (Dogue)
New member
Username: Dogue

Post Number: 23
Registered: 9-2001
Posted on Monday, April 01, 2002 - 3:19 pm:   

Does anyone have a list of what the annual or per race budgets are for each Formula One Team? Just Curious.

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