A recent report from Sportico has revealed that, for the first time, all 10 Formula 1 teams have been valued at over $1 billion in 2024, reflecting the sport’s unprecedented financial success and growing global popularity. Leading the pack is Ferrari, valued at $4.78 billion, while Haas anchors the list at $1.02 billion.
Formula 1’s explosive growth in recent years is largely attributed to Liberty Media, which acquired the series in 2017 and introduced a series of strategic initiatives. Among these, Netflix’s popular Drive to Survive series has played a pivotal role in broadening F1’s mainstream appeal, attracting new audiences worldwide. As a result, the race calendar has expanded to 24 Grands Prix, and the series has secured partnerships with major global brands.
The implementation of the cost cap, currently set at $135 million for the 2024 season, has been another transformative factor. By limiting the amount teams can spend on car development, the cost cap aims to level the playing field across the grid. Additionally, it has improved the financial sustainability of F1 teams, making them more attractive as long-term investments.
Ferrari, known for its iconic brand and storied history in motorsport, sits atop the valuation rankings with a 2023 revenue of $619 million. Mercedes follows in second place with a valuation of $3.94 billion, buoyed by the highest reported revenue of $680 million in 2023. Red Bull Racing, the reigning world champion team, is valued at $3.5 billion, generating $555 million in revenue last year.
The full valuation list highlights the disparity in revenues between teams. McLaren ($2.65 billion) and Aston Martin ($2.07 billion) round out the top five, while Alpine ($1.5 billion), Williams ($1.24 billion), and Sauber ($1.2 billion) sit in the middle. Despite their lower revenue figures, teams like Haas and Williams have crossed the $1 billion mark, showcasing the financial stability ushered in by recent F1 reforms.
This valuation milestone underscores the growing economic might of F1 and its teams, as the sport continues to expand its global footprint and secure its position as one of the most lucrative properties in motorsport.
