The result of the unsupervised spending in F1 racing showed that the average wave bill of every team has pushed to 76.7 percent from 69.6 percent according to research.
To put this thing into context, a typical staff bill is capable of funding an entire yearly budget of 6 teams in electric-powered Formula E series or IndyCar.
A Big Jump Indeed
Increase in wage bills in F1 teams have caused a surge in staff numbers from the average 512 per team back in 2007 to 620 in 2017. That’s a big increase in a decade’s time. The more staff the team has, the bigger its gains could make in development and thus, higher chances of success.
This might just Surprised You
The costing of every team does not always consist of the turbocharged salaries that were earned by F1 drivers. Rather than paying drivers salary and put them on payroll, some of the teams are paying a service fee to offshore companies where the latter pay the drivers. All payments are included in the general costs of the team instead of being part of their payroll.
It’s completely legal structure that’s helping the drivers to operate better in countries with varying tax requirements. Some countries are charging taxes on earnings of sports stars that are competing in the event but, it’s difficult to set an argument if they are paid a salary or not.
Regardless, all these are what causing F1 racing to be more exciting and have higher stakes and bets among fans.