Mercedes put a £324m price on its 2020 world championship

Reigning F1 world champions Mercedes spent £324m to win the world championship in 2020, but despite the hefty... The post Mercedes put a £324m price on its 2020 world championship appeared first on F1i.com.

Mercedes put a £324m price on its 2020 world championship

Reigning F1 world champions Mercedes spent £324m to win the world championship in 2020, but despite the hefty expense and the impact of the Covid-19 crisis on F1, the German outfit still racked in a profit last year.

Newly released company accounts show that the Brackley squad's revenue fell only slightly from £363.6M to £355.5m in its fiscal year 2020.

The numbers reflect the sport's overall drop in revenue due to the lesser amount of races last season but also a surprising boost in sponsorship income for Mercedes that mitigated F1's reduced payments to teams.

Furthermore, Daimler's contribution last year was fractionally reduced compared to 2019, the manufacturer supporting its F1 efforts last year to the tune of just over £27m.

Looking therefore at Mercedes' bottom line, the team posted a profit after taxes of £13.6m, down slightly from £14.7m in 2019.

"The company’s success is measured by its performance in the championships and by reference to the financial parameters defined by its shareholders, which include achieving a financially sustainable future for the team," Mercedes F1 team boss Toto Wolff noted in the company's financial statement.

"From 2021, the introduction of new financial regulations will enable Formula 1 teams to achieve standalone financial sustainability in the years ahead."

  • Read also: Hamilton wants new Mercedes contract 'in place by summer break'

As rumors of a Mercedes exit from F1 continue to ebb and flow, the Brackley outfit's profitable 2020 results amid a very challenging year will have only strengthened the manufacturer's position in the sport.

As a reminder, Daimler reduced earlier this year its holding in the Mercedes F1 team which is now equally owned by the company alongside Wolff and INEOS owner Jim Ratcliffe.

"In parallel to the team’s success in recent seasons, the Mercedes brand has grown in value from $31.9 billion in 2013 to $49.3 billion in 2020, with F1 making an important contribution to the brand’s status as the eighth most valuable in the world," added Wolff.

The bottom line? Mercedes won't be leaving Formula 1 anytime soon as Grand Prix racing remains a it center for the manufacturer.

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Source : F1 i More   

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Hamilton clocks in 8th on Forbes highest-paid athletes list

Seven-time F1 world champion Lewis Hamilton is Grand Prix racing's highest earner, but the Mercedes star is also... The post Hamilton clocks in 8th on Forbes highest-paid athletes list appeared first on F1i.com.

Hamilton clocks in 8th on Forbes highest-paid athletes list

Seven-time F1 world champion Lewis Hamilton is Grand Prix racing's highest earner, but the Mercedes star is also among the world's top-ten highest-paid athletes for 2020 according to Forbes.

Despite the global coronavirus pandemic which brought the world – and many professional sports – to a standstill last year, there was no off switch for the world's leading athletes in terms of their income.

On the contrary, most of sport's mega stars enjoyed more income last year than in 2019.

According to which took into account retainers, prize money and cash earned away from the sports arena, the ten highest-paid athletes in the world took home pretax gross earnings of $1.05 billion during the past 12 months, 28% more than last year’s top earners.

©Jeff Bottari/Zuffa

At the top of the money pyramid sits Irish UFC fighter Conor McGregor who earned a whopping $180m in 2020.

But there's a catch – or perhaps in McGregor's case, a punch. The bulk of the fighter's pay day came from the sale of his holdings in whiskey brand Proper No. Twelve to proximo Spirits for $150m.

Completing the money grab podium in 2020 are footballers Lionel Messi and Cristiano Ronaldo who earned respectively $130m and $120m.

NFL Dallas Cowboys star Dak Prescott landed in fourth place with $107.5m, and was followed by NBA legend and Lakers player Lebron James who collected $96.5m last season.

Brazilian striker Neymar lines up sixth in the standings with $95m, while Roger Federer managed to boost his bank accounts by $90m despite being out of commission for most of the year due to a knee injury

  • Read also: Hamilton wants new Mercedes contract 'in place by summer break'

Then follows our man Sir Lewis who beefed up his estimated $45m retainer with Mercedes with additional earnings that brought him across the finish line P8 with toral earnings of $82m.

It's uncertain if Forbes' estimate took into account the rumored 20% cut applied by Mercedes to its driver's retainer following the lesser number of races that took place last season.

©Mercedes

Nevertheless, Forbes believes that Hamilton earned himself a healthy bonus thanks to his 11 Grand Prix wins to which he added the fruits of his numerous endorsements deals with Tommy Hilfiger, Monster Energy and Puma.

Interestingly, if Forbes had ranked everyone according to "on the field" earnings only, Hamilton would have clocked in fourth behind Messi, Prescott and Neymar.

Keep up to date with all the F1 news via and

The post Hamilton clocks in 8th on Forbes highest-paid athletes list appeared first on F1i.com.

Source : F1 i More   

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