Formula 1 Grand Prix racing takes million dollars of budget!
Sport events have been one of the best mass attractions. In some countries, football has been worshiped for decades. In the global scale, Formula 1 (also known as F1) is definitely on top of the list.
Compared to other sport events with the same number of possible attendance, F1 racing is way more expensive. It is not just about the car and its acceleration. F1 racing offers a lot of entertainment for the fans.
So what makes this sport event so expensive? With great power comes great responsibility. With luxurious entertainment comes exclusive price.
We gathered 10 proofs why Formula 1 Grand Prix is considered as one of the world’s most expensive sport events. Buckle up and start your engine!
10. The Cars
Let’s start this off with the main object of the sport: the super-fast car. This beauty is incredibly expensive from front to rear. The most expensive part of it is the engine itself which each driver can only use up to eight of them in one season.
This means, they have to produce a very reliable engine to perform such grueling roars throughout the year. The material cost is just a small portion of the budget. What costs more is the development.
Each Formula 1 car is worth around $3 million for its engine and material cost only. Not to mention other factors that can add its value such as the sponsored content or the history of the car itself.
With 23 drivers, that gives around a quarter of a billion dollars per one F1 season spent on the cars only. Knowing this makes you wince a bit more every time you see an F1 car crashes out, doesn’t it?