Formula One: Revenues to double by 2016
The Formula Money report predicted annual revenues for the Formula One Group to reach $3.253billion.
LONDON:
Annual revenue from Formula One’s commercial rights is set to double in the next five years to more than $3billion thanks largely to race hosting fees. The Formula Money report predicted annual revenues for the Formula One Group would rise at a rate of 12.7% to reach $3.253billion by 2016 compared to an estimated $1.587billion in 2010. This year’s calendar was to have been a record 20 races, and could still be if the postponed Bahrain Grand Prix is reinstated. However, the sport’s future remains uncertain, with US media group News Corp and Italian financial holding Exor, which controls Ferrari through carmaker Fiat, teaming up to explore options on how to run the sport.
Published in The Express Tribune, June 3rd, 2011.
Annual revenue from Formula One’s commercial rights is set to double in the next five years to more than $3billion thanks largely to race hosting fees. The Formula Money report predicted annual revenues for the Formula One Group would rise at a rate of 12.7% to reach $3.253billion by 2016 compared to an estimated $1.587billion in 2010. This year’s calendar was to have been a record 20 races, and could still be if the postponed Bahrain Grand Prix is reinstated. However, the sport’s future remains uncertain, with US media group News Corp and Italian financial holding Exor, which controls Ferrari through carmaker Fiat, teaming up to explore options on how to run the sport.
Published in The Express Tribune, June 3rd, 2011.