Its lead driver Sebastian Vettel won the first two races of the season and currently leads the drivers’ championship.Like Mercedes, Ferrari is believed to be spending around $98.4 million (€93.4 million) on staff with more than half of it going on payment of Vettel and his team-mate Kimi Räikkönen.

My colleague Caroline Reid and I are theI write about the business of Formula One auto racing as well as the theme park industry and have been doing this since 2002. Formula Money is on Twitter @formulamoney and its services are shown on the following link (https://www.formulamoney.com/products/).Opinions expressed by Forbes Contributors are their own.I cover the theme park industry and the business of Formula One Liberty has three years to turn round this situation and ensure that Ferrari stays put. However, when Ferrari floated on the New York Stock Exchange in 2015 its filings finally gave a glimpse under the hood of its racing outfit.The filings add that “the main component of research and development costs expensed related to the research and development performed for the Formula 1 racing car.” Taking this to be 75% of the total gives $402.7 million and that excludes salaries and the running costs of the team.As Ferrari itself is floated it releases financial information ahead of almost all of the F1 teams which are private corporations. Browse official Ferrari F1 merchandise, gifts, and clothing at the Official Scuderia Ferrari Store on F1 Store Official Online Store EU . This started to change in 2012 when F1 planned to float on the Singapore stock exchange and produced a prospectus which lifted the lid on the prize money paid to its teams.The prospectus states that this structure sees “the Team ranked first receiving 37% of the CCB Fund (with a minimum payment of US$37 million), the second Team receiving 33% of the CCB Fund (minimum US$33 million) and the third Team receiving 30% of the CCB Fund (minimum US$30 million).” As Ferrari is third in the ranking it races off with a guaranteed $30 million but it doesn’t stop there.The Italian marque gets its own dedicated prize pot as well as the CCB Fund.
It gives Ferrari at least $62.2 million annually in return for being F1’s longest-standing team having been racing in it since the birth of the championship in 1950.This guarantees Ferrari at least $92.2 million annually with the performance-based payments driving its total prize money to an estimated $190 million in 2016. Plans presented to the teams before this month’s Bahrain Grand Prix reportedly involve cutting Ferrari’s bonus by half with just $40 million due to be paid in recognition of its historic status and an additional $10 million going to each engine manufacturer.As well as facing a fall in prize money, Ferrari’s costs are on track to rise as F1 is due to introduce a new version of its 1.6 liter V6 engine in 2021. Ferrari F1 2018 vs Ferrari F1 2004 - Nordschleife - Duration: 5:39. Outside journalism, I founded the Zoom series of Art Deco-inspired posters for drivers and races (https://zoom-f1.myshopify.com/collections/posters). The annual expense for running the team comes to an estimated $70 million (€66.4 million) bringing Ferrari’s total F1 costs to an eye-watering $571.1 million.It doesn’t mean that Ferrari would bank this as a profit if it put the brakes on its F1 team. Since 2003 the F1 Clienti programme has permitted a small group of people to buy F1 cars and has enabled those who bought them earlier use them to the fullest. Links to archives of our work can be found here (https://www.formulamoney.com/reaction/profile/). Its chairman Sergio Marchionne said last year that quitting would be “totally beneficial to the P&L” and it is no exaggeration.Unlike most of its rivals Ferrari doesn’t file financial statements for its F1 team as it is a division of the auto maker rather than a separate corporation. Our writing regularly appears in the Telegraph, the Guardian, the Independent, the Mail and the Express. As preparations ramp up for the season-opening Austrian Grand Prix on July 5, Ferrari has summoned both …


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