With a valuation of US$3.13 billion Ferrari have been ranked as the most valuable Formula One team in 2023, according to research carried out by Sportico.
Confirmed:
- Italian outfit valued ahead of Mercedes (US$2.7 billion) and Red Bull (US$2.42 billion)
- McLaren, Aston Martin and Alpine also valued by Sportico at more than US$1 billion
- Study reveals Mercedes and Ferrari are the only teams to turn significant profit in 2022, posting US$114 million and US$50 million, respectively
- Aston Martin, McLaren and Williams are all estimated to have recorded losses during 2022
- Haas are ranked as the least valuable team, at US$710 million
Context: It’s unsurprising to see Ferrari top the list; as well as being the most famous name in Formula One, the Italian outfit receives around US$100 million per season as a ‘heritage payment’ for remaining in the sport. Although, these figures should be taken with a pinch of salt in the context of the recent minority stake purchased in the Alpine Formula One team that valued the French marque at around US$900 million.
Comment: Sportico said: ‘Sportico calculated each team’s revenue, relying on publicly available financial statements from annual reports; Companies House, the UK’s registrar of companies; and the Italian Business Register. We used our own estimates in cases where detailed information was not available.
‘We conducted interviews with those knowledgeable of team finances, including sports bankers, attorneys and investors who have looked at F1 teams. We traded candor for anonymity. This information was vetted by multiple teams and industry experts.’
Consequence: It is likely that the deeper we go into the budget cap era, more Formula One teams will turn a profit. Aston Martin returned the most significant loss (US$55 million), but the Silverstone-based team has been in the process of constructing a US$276 million factory. It’s safe to say that all teams are currently enjoying rude health.