Expenses of a Formula 1 Team in 2015
Formula 1 is one of the most expensive racing sports in all over the world from team management to cars management there is quite big money budget required . There are many engineers who are related to this sports are hired to maintain the car system and its functions perfect but how much expenses are made by a Formula 1 team . A car engine cost almost around expected price £198,000 in 2014 .
The Car Cost :
The most money spend during an Formula 1 season is on car. Well all parts of the car which are maintain or changed during the race are listed in the table with their price. The most expensive part of the Car is Engine which is almost increased upto $8 Million in 2015 . A Car used tyres almost 24 times during race or less then 22 times which almost cost a formula team (£15,000) per race .
|Engine Unit||$7.7 Million|
|Carbon Fibre Monocoque||$650,000|
|Front Wing & Nose Cone||$160,000|
|Rear wing & DRS overtaking aid||$80,000|
|Fuel tank plus assembly||$110,000|
Pit Crew Salaries :
A team is incomplete if there is no pit crew members . They do their best job during the race , they check car with their best procedures during a pit stop . They were highly trained skill persons they managed fuel , changing tires and they check out the damaged parts of the cars and try to change them before the car cause more damage during race . Pit crew members are more then 10 person they have seconds to finish their jobs.
Services Performed by Pit Crew :
- Removing debris from radiator air intakes
- Refueling the Car
- Changing Tires
- Suspension settings
- Checking Tire Pressure
- Cleaning the windshield
|Members||Per Race Salary||Annual Salary|
|Refueling Person||£5,000||£24,260 – £62,383|
|Tire Changer||£3,000||£18,000 – 59,000|
|Wheel Gun Crew||£4,000||£20,000 – £52,340|
|Lollipop Man||£2,500||£15,000 – £30,000|
Race Drivers Salaries :
Its the drivers who has to put the effort during the race to win the a Grand Prix and the management create a race plan for him and instruct him during the race . They both are highly paid for their services . Formula 1 richest driver is Fernendo Alonso , Lewis Hamilton and Sebastian Vettel . They have shown some great performances . There test drivers who are also paid even they take part in race or not . Test driver only makes to the race if the first team driver get injured .
|First Team Driver’s||£18 Million (Increased upto 2015)|
|Test Driver’s||£3.5 Million (Expected)|
Its Ferrari , Red Bull , Mercedes who spend millions of ruppees on their drivers salaries . The actual salaries that were paid to Fernando Alonso €20 Million on contract base while Meclaren F1 driver Lewis Hamilton recives the equilent amount to it €20 Million.
Extra Expenses :
The other extra expenses which team pay are “£2.1 Million” as travelling expenses. The fuel which car cost during the race , qualifying session and Practice session is worth of “£3.5 Million” .