At a time when F1 is discussing whether to accept Andretti’s entry into the category, one thing draws more attention and makes it clear why there is so much resistance to a new member taking part in the family…
Liberty Media today released group results for the third quarter of this year. F1 included, obviously. Although there is a certain general lack of interest due to the anticipation of the resolution of this season’s titles, the Americans released excellent financial numbers.
Compared to last year, there was a 27% increase in revenue, reaching US$887 million. According to Liberty, the entry of two more stages outside of Europe caused the amount received for the races to increase, in addition to adjustments to current agreements and the entry of new sponsors. Under current commercial agreements, around half of this revenue goes directly to the teams.
On the other hand, costs also increased: the entry of more stages ended up also increasing logistics expenses, but the observation that costs with the F1 Academy and the organization of the Las Vegas GP, which is being directly managed by Liberty.
Even so, F1 has closed 2023 so far with a profit of US$161 million. The best result since the Americans took control of the category. The detailed table is here.