Mercedes Formula One team increased its profits by $61 million in 2021, based on its published accounts for the 2021 season.
The Brackley-based team largely attributed the increase in turnover to higher sponsorship and applied science income.
Thanks in part to the sport’s US$145 million cost cap, the team is now spending far less on its operations, which resulted in profits increasing from $15 million in 2020 to$76 million in 2021. It’s also worth noting that 2020 was heavily impacted by the Covid-19 pandemic.
The team’s revenue only increased from $392.5 million to $423.5 million over the one year, equivalent to around half the overall increase in profits.
Despite the new financial regulations, expenditure on wages and salaries increased from $103.13 million to $106.15 million.
