Red Bull Racing Becomes First F1 Team To Spend More Than £200M

Red Bull Racing has become the "first F1 team" to spend more than £200M ($304.1M) in one season, per its latest accounts, according to Christian Sylt for the London TELEGRAPH. The team finished second last year "but has since slipped further down the standings." It has boosted its budget by £7.4M ($11.3M) to a record £203.6M ($309.6M) in a bid to "return it to winning ways." Red Bull had to "redesign its car last year to incorporate the switch from 2.4-litre V8 engines to a more environmentally-friendly 1.6-litre turbocharged V6 hybrids." Its accounts for the year ending Dec. 31, 2014, state that "adapting to new technical regulations, in particular the adoption of a new power unit, were the most significant cost drivers" (TELEGRAPH, 11/16).