Profits at Red Bull’s championship-winning Formula 1 team "accelerated 26%" to £11.4M last year when its costs "reversed after its star driver Sebastian Vettel defected to Ferrari," according to Christian Sylt for the London INDEPENDENT. Vettel won four consecutive championships for Red Bull Racing but left for Ferrari after the team’s winning streak came to an end in '14 when F1 switched from 2.4-liter V8 engines to 1.6-liter V6 hybrids. Vettel was paid an estimated £13M annually and his exit fueled "a sharp decrease in the team’s costs which in turn boosted its profits." Recently-filed accounts for Red Bull Technology, the company which owns the team, show that its costs in '15 fell by 11.3%. They came to £225.5M on revenue of £235.6M which "primarily comes from three sources:" prize money, sponsorship and payments from its parent, energy drinks company Red Bull. Like last year, Red Bull has been developing its '17 car throughout this season and is fueled with more investment "after signing new partners watch maker TAG Heuer and Aston Martin." It can also count on a boost in its prize money due to its improved performance (INDEPENDENT, 11/5).
