Formula One Shakin’ Their Money Maker!
Formula One Grands Prix generate more revenue per event than any sport in the world?
That’s the claim made by Formula Money and Deloitte Sport Business Group. (The who group?)
Reportedly F1 generates more revenue per event than any other sport in the world. Each of the motor sport’s 17 races produce an average revenue of $229 million per event — nearly ten times that of its closest competitor, the National Football League (NFL), which generates $24 million per game.
Huh?
Something doesn’t smell right because at the bottom of the report is the following: (**Note: The Deloitte studies did not include a full accounting of NASCAR Sprint Cup series data or revenue.)
This is so much horseshit, how can these two outfits claim F1 is #1 in the world at generating cash flow when they fail to consider NASCAR?
There’s 2 possible reasons; 1) they consider NASCAR to be not “of this world,” and 2) these two groups are so closely tied to F1 they don’t want to admit or publicize the fact NASCAR events on average generate over $100 million per event and in more than a few cases surpass their $229 million figure.
Their effete snobbishness just doesn’t allow them the luxury of facing the reality F1 as currently structured is a monumental cash sucking hole for track owners/operators.
The annual fees demanded by the Formula One group for the right to hold an event are astronomical. This, coupled with the rights that must be signed away, means that in a lot of cases the only source of revenue left to the promoter is the sale of tickets to the general public.
And they’re screwed on that account. The largest track seating wise in the EU is Nurburgring with 150,000 seats. Hockenheim boasts 120,000 and Silverstone, currently under threat to its very existence by Bernie Ecclestone, only seats 60,000.
Jesus H. on a pogo stick, Daytona generated $155.4 million in taxes for the state of Florida in 2007 and billions in wages were paid to in state residents!
Hell Kentucky’s NNS event this weekend will draw 60K and I’d be willing to bet generate well over $60 million for the local economy, and that’s being very conservative.
This “study,” and a five dollar bill will get a a gallon of gas at the going rate.
On second thought, and in light of all the hot air this “study” spews forth, if one had a Stanley Steamer you could in all likelihood have enough steam to circumnavigate the globe once or twice.
So it is worth something, but how many Stanley Steamers are still on the road.
Remind me to call Jay Leno.
Technorati Tags: Auto racing, NASCAR, Sprint Cup Series, Motorsport, Sports, NASCAR Sprint Cup, Kyle Busch, F1, Formula One, F1 Rage!, Full Throttle, FIA, Bernie Ecclestone
Perhaps they should have ranked F1 as the “sport where one man makes the largest amount of money”
I wonder if Bernice & Brian France ever sat down over a dinner table for a few laughs?
“Reportedly F1 generates more revenue per event than any other sport in the world. Each of the motor sport’s 17 races produce an average revenue of $229 million per event …
… NASCAR events on average generate over $100 million per event and in more than a few cases surpass their $229 million figure.”
Didn’t you answer your own question? F1 ‘average’ is $229m. NASCAR sometimes exceeds $229m but its average is lower. Therefore F1 generates more - per event - than NASCAR.
What’s the big deal? WRC generates far less but I find much more exciting.
You forgot to mention as to which is most popular and skillfull. Driving around in a circle for hours, ooooooh, the skill they must have!!!
When a driver can’t make the cut for f1 they go to nascar as its piss easy e.g. montoya. And look what happened when a nascar driver went into f1: he failed miserably blaming every one but himself for his crapness. NASCAR is liked in america only, its the only racing americans can understand, none of those tricky corners to confuse you!
…and budweiser tastes like muddy water!!!
James, yeah them damn “tricky corners” they are hell aren’t they?
Except when they race at Watkins Glen or Infineon and consistently beat very talented open wheel drivers including Montoya and Jacques Villeneuve.
Except when the likes of Jeff Gordon and Jimmie Johnson travel across the pond to compete in the Race of Champions and beat F1 drivers, WRC drivers and DTM drivers on an indoor closed road course with identical prepared machines.
And BTW, it you think Montoya has done much beyond “showing up,” but for a couple occasions you’re more misinformed than I think you are.