McLaren Racing is projected to become the first Formula 1 team to surpass $1billion in annual revenue, according to a report by Sky News.
The filings will also confirm a record payout of over £75.4 million ($100 million) to McLaren Racing CEO Zak Brown—a dramatic increase compared to his previous compensation, triggered by a share award linked to the corporate buyout by Bahrain’s Mumtalakat and Abu Dhabi’s CYVN Holdings. The buyout valued McLaren Racing at £3.5 billion.
Brown credited F1’s explosive growth to Liberty Media’s stewardship and the introduction of a cost cap: “The sport is on fire, you know, every metric, demand for teams… The fans are coming out in the tens and hundreds of millions, sponsors, partners in the sport, unlike we’ve ever seen before, so the sport is on fire, and long may it continue.”
He remains bullish about the sport’s future value, noting growing demand for races, high-profile sponsors, and the surge in global popularity fueled by on-track competition and off-track intrigue. “It’s the first time I’ve seen that in my 30 years of following the sport, so the on-track competition is great. The off-track drama, as captured by Netflix, is fantastic. The demand for grands prix has never been stronger, so I think the sport, in many ways, is just getting going.”
With a record-setting year on the horizon, McLaren is set to solidify its position at the financial forefront of Formula 1.
