Formula 1’s financial boom is undeniable. In an unprecedented milestone, all 10 Formula 1 teams have been valued at over $1 billion in 2024, according to a Sportico report.
Leading the pack is the iconic Scuderia Ferrari, valued at a staggering $4.78 billion, a testament to its rich history and unmatched global appeal.
Liberty Media’s Transformation of F1
Since taking over Formula 1 in 2017, Liberty Media has revolutionized the sport, driving its popularity to new heights. Initiatives like Netflix’s Drive To Survive have catapulted F1 into the mainstream, attracting younger audiences and new markets. Coupled with an expanded 24-race calendar and partnerships with global brands, Formula 1 is thriving like never before.
The introduction of the $135 million cost cap has played a pivotal role in this transformation. By capping team spending on car development, it has created a more level playing field and bolstered the financial sustainability of teams, making them more attractive to investors.
The Valuation Rankings
The valuation list, topped by Ferrari, underscores the sport’s growing commercial viability. While Red Bull claimed its fourth consecutive Drivers’ Championship in 2024, it ranks third in team valuation behind Mercedes.
Here’s the full 2024 valuation list:
- Ferrari: $4.78 billion ($619m revenue)
- Mercedes: $3.94 billion ($680m revenue)
- Red Bull: $3.5 billion ($555m revenue)
- McLaren: $2.65 billion ($536m revenue)
- Aston Martin: $2.07 billion ($304m revenue)
- Alpine: $1.5 billion ($311m revenue)
- Williams: $1.24 billion ($158m revenue)
- RB: $1.22 billion ($226m revenue)
- Sauber: $1.2 billion ($189m revenue)
- Haas: $1.02 billion ($184m revenue)
Breaking Down the Rankings
Ferrari ($4.78B, $619M Revenue)
The crown jewel of Formula 1, Ferrari’s unparalleled heritage and brand value keep it at the top. Despite not clinching a Constructors’ Championship since 2008, its global fanbase and lucrative commercial deals sustain its dominance.
Mercedes ($3.94B, $680M Revenue)
The Silver Arrows boast the highest 2023 revenue, reflecting their massive sponsor base and global appeal. With Lewis Hamilton’s impending switch to Ferrari, Mercedes continues to be a commercial powerhouse.
Red Bull ($3.5B, $555M Revenue)
Dominating the grid with Max Verstappen, Red Bull remains an on-track juggernaut. However, its valuation, while significant, still trails Ferrari and Mercedes, largely due to a relatively younger legacy.
McLaren ($2.65B, $536M Revenue)
Rising as the top challenger in 2024, McLaren’s resurgence has significantly boosted its valuation. The team’s historic brand and stellar performances this year reinforce its position.
Aston Martin to Haas
The remaining teams reflect a mix of potential and challenges. While Aston Martin has seen a resurgence under Fernando Alonso’s leadership, teams like Williams and Haas remain at the bottom of the list, grappling with financial and competitive limitations.
The Future of F1 Teams as Assets
The valuation surge underscores the growing allure of F1 as a business venture. With Andretti-Cadillac set to join the grid in 2026, the demand for slots is at an all-time high, and team ownership has become a lucrative prospect.
As Formula 1 continues to break records in viewership and sponsorship, the $1 billion valuation milestone is likely just the beginning. With innovative rule changes, expanding markets, and electrifying rivalries, the sport’s future looks brighter-and more valuable-than ever.