The cost to host an F1 race can be staggering, know how much each track and venue pays for a race
The Middle East countries are among the highest payers, however, the new Las Vegas event, which will debut on the schedule next year, will not be required to pay a hosting fee, as F1 is eager to bring Sin City to the calendar.
During the early years of Formula One, the championship administrators actually paid racing circuits to utilize their facilities.
Cost To Host An F1 Race And How Much Money Each Track Pays For A Grand Prix
However, circumstances have changed, with circuits – and frequently the authorities of those nations – paying exorbitant race costs for the privilege of being on the F1 schedule. This does not appear to deter track owners, with new circuits actually lining up to celebrate Grand Prix. The calendar, which is now at 22, is expected to expand considerably in the next years.
How Much Each F1 Circuit Spends To Host A Race, With Azerbaijan Spending £45 million
The schedule will include a race in Las Vegas in 2023. And a race in Qatar will return after skipping out already due to the World Cup. F1 is also interested in South Africa, which may host a tournament for the first time since 1993 as early next year.
And how much does every circuit pay to host the Formula One circus? It depends greatly on the location, but it should come as no surprise that the Middle Eastern countries are among the highest payers.
According to numbers revealed earlier this year by Racing News 365, Saudi Arabia and Azerbaijan are each spending 55 million US dollars (about £45 million). Bahrain comes in second with $45 million (£37 million), followed by Abu Dhabi and Hungary with $40 million (£32 million).
Singapore and Australia, are both resuming the schedule this year. They are said to be paying F1 $35 million (£28 million), with Canada, another returning site, paying $30 million (£24 million) every year.
Contrary to common opinion, the Monaco Grand Prix pays a hosting fee, estimated to be approximately $15 million.
Other racing costs are as follows:
Netherlands: $32million (£26million)
Spain: $25million (£20million)
- Austria: $25million
- Britain: $25million
- Italy (Monza): $25million
- Japan: $25million
- Mexico: $25million
- Brazil: $25million
- France: $22million (£18million)