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Annual income Formula 1 set to rise to $3 billion
Posted: Friday June 03rd 2011, 16:02 GMT
Although there are doubts about the future of Formula 1 with the current owner, F1 is bound to gain a lot more income in the next five years. According to the annual Formula Money report the income of F1 is set to double from $1,587 billion in 2010 to $3,253 billion in 2016.
According to the report the biggest gain is to come from the fees tracks and countries have to pay to be allowed to organize a race. The fees represented an income of 568 million dollar last year and are looking to grow with the addition of Russia and India to the calendar. Those countries are thought to be willing to pay a lot more money to organize races.
Formula Money doesn't use official figures for their reports but gets their information from a lot of different sources. The teams, who are currently at odds about the future Concorde Agreement, will gain a lot of money in the coming years. Last year the world champion got a bonus of $60 million that amount would rise to $150 million in 2016.
