March 27, 2023

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F1 Grand Prix prices in 2023: Baku pays the most ($57 million!), Europe the cheapest, totaling $711 million

France is furious because of the departure of F-1: the organizer of the Grand Prix went over € 27 million, and Macron is blamed for the loss of the stage

France is furious because of the departure of F-1: the organizer of the Grand Prix went over € 27 million, and Macron is blamed for the loss of the stage

Formula 1 is in the best financial shape ever: the calendar has grown to 23 Grands Prix (and this is without the unexpected loss of China a couple of months before the start!), The expected income is $ 2.3 billion a year, and the champions Red Bull is running out of space for sponsor stickers .

And a significant portion of the series’ revenue is collected as a fee for hosting the Grand Prix – according to the calculations of the Dutch RacingNews365, F-1 will receive $ 711 million from firm contracts alone. The basis of long-term contracts and amounts is the recent wave of renewals and renegotiations that went through the calendar in 2021 and 2022.

You can trust this information: the author of the researcher is columnist Dieter Renken. He is one of the oldest and most respected journalists in Formula 1 and has connections to many teams. Every year he compiles a rating on the estimated salaries of pilots – previously they were published on the Racefans website, but now Dieter works with other publications: first of all with Racingnews365.

It is immediately clear that the amount of 711 million is not final: the contribution for the Monaco Grand Prix in the event of a tourist success of the race may exceed the estimated 20 million, the Vegas Grand Prix is ​​fully organized by the championship itself (which means that all income will also go to the budget of the series – and will not be displayed in this column), and in Miami they race according to a similar scheme, but with a division of income.

What other features of the rating can be noted?

  • The most expensive race is in Baku: it must be the payment for the difficult political situation in the country and the region. It is not for nothing that rumors constantly surface about the desire of the Azerbaijani authorities to reduce payments. According to Ranken’s insider, a 10-year extension is now being discussed.
  • A new deal with Belgium is under threat, and a contract with Austria for 2-3 years is considered almost a done deal.
  • Contracts in Europe are generally shorter and much cheaper on average – and this is where there is talk of switching to a rotation: when one location hosts the Grand Prix every two years. So “F-1” thinks to free up seats in favor of more profitable races in Asia and America.
  • The most expensive European race is in Hungary. The best example of the result of competition with Asian and American markets: no one is interested in a stage in this location, except for the country itself.
  • Bahrain has the longest contract for the opening of the championship. The stage is also one of the most expensive, but the location is too good for pre-season logistics and tests, otherwise they would definitely demand even more money from the Middle Eastern monarchy.
  • Russia would be in the top 5.

In general, you can really compare with the rating from the same author for 2022 :

  • Bahrain is now paying $7 million more.
  • Australia added 2 million
  • From Mexico will take 5 million more, as well as from neighboring Austin for the US Grand Prix.
  • One of the “cheapest” – France – left the calendar.
  • China paid 50 million, but there are already big doubts whether it will ever return to the calendar.

In general, the Consent Agreement spells out the bar of 25 Grand Prix for the season – and it seems that they promised not to go over it until 2025. Therefore, the competition for free slots will only increase – and if Russia still tries to return, it will be necessary to overpay very much: it will probably be the first to claim to break through the $60 million mark.