16/11/2015
NEWS STORY
Red Bull has become the first F1 team to spend over £200m in a single season.
The F1 team's latest accounts, which cover the year ending 31 December 2014, the first year of the new formula, reveal that spending increased by £7.4m to a record £203.6m ($310m), the most ever spent by an F1 team in a single season.
In a year in which the team slipped to runner-up, having enjoyed four consecutive seasons of title-winning success, staff numbers rose by 19 to 694. Indeed, staff pay accounted for £62.9m of the budget, with Christian Horner said to be receiving £2.6m.
However, as one would expect, the team’s biggest single cost was research and development, which accounted for £80.8m.
With the future of the team still officially unconfirmed, and having slipped to fourth in the 2015 constructors' standings, Horner, whilst giving little away, insists the team will be on the grid in 2016.
"(Our) ultimate parent undertaking, Red Bull GmbH, confirmed to the directors that it has no plans or intentions that would materially affect the ordinary operations of the company within the next 12 months," he told the Daily Telegraph.
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