02/10/2015
NEWS STORY
Despite winning both titles, Mercedes all-conquering 2014 season sees German team post £77m loss.
The loss is revealed in company accounts filed today, and comes at a time Red Bull is considering its future in the sport, Renault is poised to buy Lotus and the EU is about to investigate F1's governance and how the prize money is shared out.
Whilst turnover, which includes income from sponsors and prize money was £146.9m - up form £125.2m in 2013, operating costs were up from £190.7m to £240.2m, which, according to the company was due to "significantly higher bonuses payable as a consequence of the record-breaking level of sporting performance and also increased costs arising from regulation change".
Revealing also that the headcount increased from 663 in 2013 to 765 in 2014, which saw wages and salaries rise from £49.7m to £65.2m, each team member is understood to have received a minimum of £10,000 when the Brackley-based outfit won the titles.
Furthermore, Toto Wolff, who owns 30 percent of Mercedes-Benz Grand Prix Ltd, received £6m up from £3.9m in 2013.
Ahead of the EU investigation, and at a time Red Bull is understood to have received around £25m more than Mercedes in prize money in 2014, the accounts note: "The agreement with the Commercial Rights Holder has provisions for significantly increased revenue flows based on sporting performance, some of which will be triggered in 2015 as a result of the team's performance in 2014."