McLaren made a profit of 28 million euros in 2011

If HRT is going to disappear due to its lack of funding, the situation is not the same for everyone. For instance, McLaren generated, over the course of 2011, 23 million pounds sterling [about 28 million euros] in profits from its Formula 1 activities alone.

The comparison between the two teams is not coincidental since the profits generated at Woking are almost equivalent to the entire budget of the team based in Madrid. Under these conditions, it is understandable why the budget cap desired by the FIA for many years cannot be accepted by the biggest teams.

This 38% increase in McLaren’s profits is thus linked to the significant rise in its generated revenues. These revenues obviously benefited from the second place in the 2011 championship. This position resulted in more income than in previous seasons, as the teams managed to secure a larger share of the revenues generated by F1.

Additionally, McLaren has renegotiated the fee paid by its title sponsor, Vodafone. According to information from the Daily Express, the telecom giant has increased its contribution from 40.5 to 46.8 million pounds, or between 50 and 57.2 million euros. McLaren has also managed to attract another economic heavyweight, with the pharmaceutical group GSK becoming one of the team’s main financial contributors. These increases have led to a 15.9% rise in the team’s revenue, reaching 172.3 million pounds [212 million euros].

Nevertheless, Martin Whitmarsh’s team also managed to save on the salaries paid to its two drivers, Lewis Hamilton and Jenson Button. Indeed, according to information from the Business Book GP, while the salary of the 2009 world champion increased by one million euros between 2010 and 2011, going from 9 to 10 million, his teammate’s salary significantly decreased, going from 16 to 10 million euros.

As the primary goal of an F1 team is not to generate profits but to win, the team’s management decided to allocate the majority of these profits to its parent company, McLaren Group. Thus, it received a dividend of 20 million pounds sterling [24.6 million euros], which allowed it to finance part of its new factory dedicated to the MP4-12C.

The fiscal year 2012 is expected to be much less favorable than the previous one, as the team lost a place in the world championship, moving from second to third, while the salaries of Jenson Button and Lewis Hamilton have jumped to reach 16 million euros each. However, the management can find some solace in the arrival of Sergio Pérez, whose salary is expected to be much lower than that of his predecessor.

With the participation of www.Racingbusiness.fr