Mercedes Formula One Team Reports Massive $120 Million Revenue Boost
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
The Mercedes Formula One team has reported a significant revenue increase of approximately $120 million (as per today's exchange rates). Sixty percent of the earnings come from sponsorship and licensing.
From the data published by the UK's Companies House, as published by Crash.net, Mercedes Grand Prix Limited, the parent company of the Mercedes F1 team, reported a turnover of approximately $856 million (£636 million) in 2024, which is a stark increase from 2023's $735 million (£546.5 million).
Consequently, profits too have jumped significantly. Mercedes recorded an approximate $112.7 million (£83.8 million) net profit in 2023, with the number rising to $162 million (£120.34 million) in 2024, an increase of approximately $50 million.
Mercedes' British driver George Russell pulls into pit lane after winning the 2025 Formula 1 Grand Prix du Canada at Circuit Gilles-Villeneuve in Montreal, Canada, on June 15, 2025.
Mercedes' British driver George Russell pulls into pit lane after winning the 2025 Formula 1 Grand Prix du Canada at Circuit Gilles-Villeneuve in Montreal, Canada, on June 15, 2025.
TIMOTHY A. CLARY/AFP/Getty Images
It is noteworthy that Mercedes received a significant share of the F1 prize money for securing second place in the 2023 Constructors' Championship, which increased its revenue in 2024 since payments are processed the following year.
As a result of the positive earnings, the team's three shareholders, Mercedes-Benz Group, team principal Toto Wolff, and Ineos, will receive an ordinary dividend of approximately $168 million (£125 million).
However, it remains to be seen what impact Mercedes' performance in the 2024 season will have on its earnings, considering it secured fourth place in the championship. In addition, it would be interesting to see a change in the percentage of earnings from sponsorships, given seven-time world champion Lewis Hamilton's exit from the team after the 2024 season.
Speaking of 2025, the season has been dominated by McLaren thus far. Mercedes achieved its first win in the previous round in Montreal, where the team's lead driver, George Russell, started from pole position and led the race for the majority of the laps to secure his first win of the year.
However, rumors are doing the rounds that Russell is on Aston Martin's radar for the 2026 season, when the sport enters a new era of regulations. Newsweek Sports reported Russell's comments, who confirmed the interest shown by other teams but emphasized his intention to continue racing for Mercedes. He said:
"No, I'm not talking with anybody else and any teams who have shown interest. I have been quite open to say my intentions are to stay with Mercedes. That's always been clear.
"And, you know, I am loyal to Mercedes. They gave me this chance to get into Formula 1. There haven't been any hard feelings with any of the talks that have been going around, you know, especially around Max because, like I said numerous times, why wouldn't teams be interested in Max if everybody could, if every driver had a clean, no contracts for next year, Max would be the number one for every single team. And that's understandable.
"But ultimately there are two seats for every race team and I knew if I continued to perform as I'm doing, my position would not be under threat whatsoever. So, I feel in a good place. We're in no rush to do contract negotiations."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox Sports
2 hours ago
- Fox Sports
Crusaders' 13th Super Rugby title: A tale of redemption and resilience
Associated Press WELLINGTON, New Zealand (AP) — In Super Rugby, the more things change the more they remain the same. A different competition this year with only 11 teams yielded a familiar result. The Christchurch-based Crusaders are champions for the 13th time and the eighth time in the last nine years. The Hamilton-based Chiefs are runners-up for the third time in the last three finals. This year familiarity didn't equal inevitability. The Chiefs went into the final as marginal favorites after sitting in first place for most of the season and finishing in that spot, as top-seeds for the playoffs. Though they stumbled in the first playoff round, losing at home to the Auckland-based Blues, they advanced to the semifinals as the top-ranked losers and convincingly beat the ACT Brumbies in the semifinals. But if ever there was a case of one team wanting it more, it was the Crusaders who were desperate to atone for their 2024 season in which, in their first year under head coach Rob Penney, they won only four matches and finished well outside their playoffs. Penney was seen as lucky to keep his job. Other teams might have been more ruthless. But the Crusaders gave him a second chance and he atoned on Saturday with his first Super Rugby title. The Crusaders' were determined to win for Penney, for their fans and in their last match at the 'temporary' stadium they have called home since the 2011 Christchurch earthquake destroyed their former headquarters at Lancaster Park. The Chiefs were on the back foot from the start and though they trailed by only one point at halftime and then for 31 minutes in the second half, they were only hanging on. The accuracy of the Crusaders' kicking game and the eagerness with which they chased kicks kept the Chiefs pinned mostly in their own half. They escaped twice and scored tries but spent the crucial final minutes of the match trapped within their own territory. 'It was a classic final, two great teams going at it and a small margin,' Chiefs captain Luke Jacobson said. 'The Crusaders did really well to win the halfway and play at the right end of the field. 'I felt we had some good attack when we got into their half, we put some good pressure on them but we just didn't play enough footy down there.' The Chiefs did their best to send off head coach Clayton McMillan with his first Super Rugby title. In his five years in charge, McMillan has taken the Chiefs to the final three times and the semifinals twice. That followed a barren season under former British and Irish Lions coach Warren Gatland. It wasn't to be. McMillan will leave New Zealand to coach Munster in Ireland without the trophy he deserves. Close contests, uncertain future Now, questions will be asked about what it all means for the competition. Already, there is contention about the lucky loser rule, introduced this season which allowed the Chiefs to reach the final after a playoff loss. The tournament will continue next year with 11 teams but what of the future? This season began with a number of high-scoring games in summer conditions and margins were typically close, indicating a tight competition. Moana Pasifika had its best-ever season under new captain Ardie Savea and only narrowly missed the playoffs. 'We've seen a whole lot of upsets, we've seen lots of hoodoos broken and then on the pitch I think the new rules and the work of the match officials have set it up to play some really entertaining and combative rugby,' Super Rugby boss Jack Mesley told Radio New Zealand. 'The stat was something like, I think we had 43 percent of games that were decided by only seven points or less. 'We saw the teams that were on the bottom of the ladder last year really change their fortunes. It was the closest competition in points since 2004 so I think a lot of those teams just got better.' Still, while television audiences crept up by around six percent while actual match attendance remained static. 'We probably haven't delivered off the field and given fans all the tools that should go in and around a great product that we have on the field so we're working on that,' Mesley said. 'We took some pretty good steps I think this year.' ___ AP rugby: recommended in this topic
Newsweek
3 hours ago
- Newsweek
Why Williams Just Bet Their Future on James Vowles - And Why It Matters
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Williams F1 announced a contract extension for its team principal, James Vowles, securing his future with the team. Vowles joined the team back in 2023. Many in the paddock considered it a backmarker team, forever doomed to struggle at the bottom of the grid. He was comfortable at Mercedes, excelling as an important figure within the team as the Motorsport Strategy Director. A move to Williams represented a massive risk for Vowles — considering how poorly the team had performed in the past. Team principals rarely get a second chance in F1. He would have one shot at establishing himself as a quality leader of a racing team. Vowles could have waited for another chance, but he believed in the project and new ownership. He gained enough confidence based on those two factors to dive into the deep end with Williams. Williams Team Principal James Vowles walks in the garage during qualifying ahead of the F1 Grand Prix of Canada at Circuit Gilles-Villeneuve on June 14, 2025 in Montreal, Canada. Williams Team Principal James Vowles walks in the garage during qualifying ahead of the F1 Grand Prix of Canada at Circuit Gilles-Villeneuve on June 14, 2025 in Montreal, Canada. Photo byThe move paid off for Vowles - he solidified himself as a team principal, and Williams is progressing up the grid. Almost halfway through the season, Williams sits fifth in the Constructors' standings, the highest it has been since 2016. Before the former Mercedes official took over, the British racing team's points-scoring performances were considered mere blips on the radar. This season, the team's expectations are to score points at every race. The change in expectations comes from a new car development philosophy. Rather than make a car only suited for a specific track type - under Vowles' leadership - the team designed the FW47 to be balanced and versatile across the calendar. Vowles brought a new mindset for the team, pushing expectations higher every season and demanding more from the entire team, from the engineers to the pit crew. He diligently evaluated the performance of the entire team. He kept those who contributed and removed anyone who did not fit the team's new direction. I am absolutely delighted to have signed a new long-term contract with Atlassian Williams Racing. Remaining at Williams was never in doubt, but I'm really pleased to have formalised it. This team has felt like home from the moment I walked through the door. It really is a… — James Vowles (@JV_F1) June 19, 2025 The cost cap brought an element of parity to Formula 1, giving smaller teams like Williams a fighting chance against the top flight. Everyone in the F1 paddock noticed the revolution happening at Williams, which has led to some shocking acquisitions. The most notable believer in the Williams project is Carlos Sainz Jr. Sainz was one of the most accomplished free agents on the market last season, and after all the top teams were full, he was left looking for the best of the rest. Despite massive interest from other teams, Sainz chose to believe in Vowles and joined Williams. The tangible progress Williams has made under Vowles' leadership makes him the team's most valuable asset, more than the drivers or engineering teams. Vowles injected energy and belief into the team. He introduced a methodical and practical approach that created a faster car on track. Vowles is an architect who can craft a well-oiled racing machine, making him worth every penny of the extension for a Williams team that has been stuck in mediocrity.
Newsweek
3 hours ago
- Newsweek
Red Bull Sensation Arvid Lindblad Set for F1 Test at Imola
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Red Bull junior Arvid Lindblad is set to do a full Formula 1 test session at Imola as he prepares for a potential seat in the coming seasons. Red Bull applied for Lindblad to get an FIA superlicense, and the governing body approved the request despite the driver not meeting the minimum age requirement. The FIA made an exception for Lindblad, who is supposed to be 18 years old to get the license, due to his experience racing in Formula 2. "After considering the information presented in support of this request, the World Council found that the driver has recently and consistently demonstrated outstanding ability and maturity in single-seater formula car competition and thus approved the request," the FIA's statement on the decision said. With a superlicense, Linblad is set to take part in a free practice session at the F1 level. Arvid Lindblad of Great Britain and Campos Racing (20) prepares to drive in the Paddock during day one of Formula 2 Testing at Yas Marina Circuit on December 11, 2024 in Abu Dhabi, United Arab... Arvid Lindblad of Great Britain and Campos Racing (20) prepares to drive in the Paddock during day one of Formula 2 Testing at Yas Marina Circuit on December 11, 2024 in Abu Dhabi, United Arab Emirates. More Photo byRed Bull is very keen on the British sensation and is trying to fast-track him into a full-time racing seat in the top-flight racing series. His test session will be on Monday, June 23, at the Autodromo Enzo e Dino Ferrari. The first F1 car he drives will be a 2023 AlphaTauri AT04. As he prepares for F1, Linblad could potentially make his debut this season if Max Verstappen receives another penalty point. The four-time champion is one point away from a race ban. If he does miss a race, Linblad should be the odds-on favorite. Red Bull appointed him as a reserve driver, splitting the duties with the Japanese driver Ayumu Iwasa. At only 17 years of age, Lindblad has won two races in F2 this season, placing third in the season. Lindblad signed with Red Bull back in 2021 as a highly touted karting prospect. When could Lindblad join F1? Red Bull's F1 driver lineups are murky heading into the 2026 season. Max Verstappen should return to the team, though he could look for an exit. All indications are that he will likely stay for another year, though his current teammate Yuki Tsunoda's future is up in the air. Tsunoda's deal expires after this season, making him a free agent. He could stay at Red Bull if offered the spot, but his inconsistency in the RB21 does not inspire confidence. Isack Hadjar has impressed while at Racing Bulls, but the team is not signaling that a move up to the senior team is coming. Then there is Liam Lawson, who was demoted from the Red Bull second seat down to Racing Bulls. Given the door is likely shut on a Red Bull return, the F1 senior team could move on from the New Zealander. Lindblad has several paths into one of the four Red Bull seats available in F1, and his test in Italy will be one of many data points used to analyze his readiness for the next level.
