Formula 1 is more popular than it has ever been and in tandem with that rise in popularity is a rise in the number of races. Hosting a Formula 1 race isn’t free, nor is it cheap with the standard fee being $25 million USD. With more races than ever means more money for Formula 1.
There’s a reason we are seeing more races in the Arab region of the world – they’re willing to pay huge sums for it. Classics like Spa-Francorchamps are finding themselves under threat due to the huge hosting fees and they cannot compete with those willing and able to pay over $30 million to host.
There are a few exceptions to this rule – Miami and Las Vegas. Formula 1 themselves are taking on part of the cost of each of those races as they have been deemed important to the continuation of the growth the sport is experiencing. Monaco has special exceptions due to the size and GDP of the country, so they pay $10 million plus a percentage of the tourist tax.
So how much does Australian Grand Prix pay? $37 million per race with a deal that expires in 2035.
Other interesting facts include Hungary having the most expensive race in Europe, Baku is planning on a 10-year extension, Jeddah may be moved to Qiddiya, and Zandvoort may be on a two year rotation with Spa.
Hosting fees total around $711 million per year, comprising the bulk of F1’s yearly revenue.
Check out the whole list below.
This data has been sourced from RacingNews365.com.
|Country||Circuit||Hosting Fee (USD)||Contract End|
|Saudi Arabia||Jeddah||$55 million||2030|
|Australia||Albert Park||$37 million||2035|
|Monaco||Monte Carlo||$20 million ($10 million + % of tourist tax)||2025|
|Austria||Red Bull Ring||$25 million||2023 (expected to be extended)|
|Great Britain||Silverstone||$26 million||2024|
|Singapore||Marina Bay||$35 million||2028|
|Mexico||H. Rodriguez||$30 million||2025|
|Abu Dhabi||Yas Marina||$42 million||2030|