The Business of F1
With F1 fever sweeping through the Emirates, Kipp takes a closer look at the money, mastery and the madness of Formula 1.
November 14, 2010 2:41 by Ben Flanagan
The budget for operating Formula 1 teams has been the source of much contention, with many saying the price should come down. Yet it is difficult to find information about the exact price of budgets as teams do not publish the amount but Black Book in 2009 estimated Ferrari’s budget to be $404 million and McLarren at $377 million, but Formulat Money estimated Ferrari at $372 million and McLaren at $484 million. The smallest budget is estimated to belong to Force India approximately worth $120 million. The Formula One Teams Association has been trying to limit the budgets of racing teams, but have been unable to introduce such a cap. The FOTA have said they are aiming to get the costs down to 1992 levels by the end of 2012.
84 per cent of UAE residents are migrants
Arabs on Mars
Apps every entrepreneur should try
Cairo’s start-up accelerator Flat6Labs comes to Abu Dhabi
What do the kids think?