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F1 Grand Prix - The World’s Most Valuable Annual Sporting Events
Formula One boasts the world's highest revenue generating annual sporting events, with the 18 Grands Prix in 2007 having an average revenue of $217 million, according to research from the Sports Business Group at Deloitte.
This compares with per game values of $24 million in the NFL, $8 million in the FA Premier League and $2 million in the MLB.
At absolute revenue levels, F1's global revenues of $3.9 billion are made up of central revenues (from broadcasting, race sponsorship and corporate hospitality), team revenues (including sponsorship and contributions from their commercial partners and owners) and circuit revenues (from ticketing and certain sponsorships).
Alan Switzer, Director in the Sports Business Group at Deloitte said, "Global revenues of more than $3.9 billion and total viewing figures in excess of 350 million for the 2007 season make impressive reading and with measures such as the future Asian expansion, development of more 'local heroes' (potentially in India and China) and the introduction of night racing we would expect these figures to continue to rise."
Compared with many other major sports F1 brings in a much lower proportion of its revenues from spending by event day attendees. Ticket receipts and other attendee secondary spend currently represent only around 10% of total revenue, a situation the circuits, supported by F1, are seeking to change.
8th April 2008 - MIDDLE EAST KEY TO MOTOR SPORT’S FUTURE
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