Sports events attract millions of people throughout the world. Formula 1 (or F1) is one of the most famous sports in the modern time. Compared to other games, F1 racing is very expensive. Here are some of the reasons why this game is so expensive.
F1 needs super-fast cars. The car is expensive from the front to the back. The engine is the most expensive part of the car. Each driver can use up to eight engines in one season. An F1 car costs $3 million. A tournament usually has 23 drivers. So, in one F1 season about a quarter of a billion dollars are spent.
The driver’s paycheck
F1 drivers have a luxurious lifestyle. They drive fast cars not only for living but also to spend their leisure time. For example, Jenson Button receives a $11.6 million paycheck every year. The F1 Grand Prix world champion Sebastian Vettel gets $50 million. They also get bonuses, sponsor deals, and cash prizes. In one season, the F1 drivers make a total of $185 million. They also get up to $10 million worth of bonuses in one season.
F1cars use same petrol like the ordinary cars. But it contains only compounds that are found in commercial gasoline. You cannot use any specific power-boosting chemical compounds. One race covers an average distance of 300 km. The practice sessions take about 3,000 liters of petrol; qualifying sessions take 1,500 liters, and the race itself takes 5,000 liters. So, the total fuel consumption in one race is 9,500 liters!
Lighting during night race
If the race takes place at night, then you need to have a huge lighting system. The F1 Singapore night race uses 1,500 lighting projectors that are powered by 12 twin-power generators to give you a similar condition like daylight. 10,000 units of 2,000-watt white metal halide lamps are used to light up the streets. F1 Singapore night race spends $176,000 just on lighting.
Price of ticket
The average number of spectators for an F1 race is 150,000. Ticket price ranges from $50 to $3,000. If you want to get close to the drivers, you need to pay $6,300.
Transport between races
Formula 1 Grand Prix is a 21 races event held in 21 different locations in more than 15 countries. It is expensive to carry all the gears from one venue to the other. Each F1 team has to hire a whole plane to transfer all its goods. So, a team spends around $2 million for transporting every ear.
Each year F1 event spends more than 1 billion dollars. Most tickets get sold out many days before the event. This indicates how popular this sport is.