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F1 profits up 11%

NEWS STORY
15/09/2006

According to reports, Formula One Administration's profits rose by 11 percent to £166m last year.

Furthermore, FOA increased sales by almost 12 percent to £417m, the fourth increase in five years.

Such figures will delight new owners CVC Capital Partners, who, having bought Formula One at the end of 2005, is now seeking a good return on its $1.25bn investment, with some insiders claiming the investment company is seeking a return of at least 20 percent over the next five to ten years.

With the manufacturers having committed to F1, thereby ending the threat of a breakaway, CVC can now look to the future, and begin its campaign to make the business even more profitable.

However, it should be noted that there were 19 races in 2005, while the 2007 schedule features only 17 races. Furthermore, it is not known what effect the retirement of Michael Schumacher will have on the sport, especially when one considers that Italy and Germany have both lost their extra race.

Additionally, talk of the championship being manipulated could also have a devastating impact on the sport, and thereby, the business.

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