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.
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.”
The post Mercedes Formula One Team Reports Massive $120 Million Revenue Boost appeared first on Newsweek.
