Mercedes Will Increase Budget For Its F1 Team By 30%, $56M for '13 Campaign
After three more or less successful seasons in F1, Mercedes "reportedly plans to increase the budget of its F1 team by about 30% in '13," according to AUTO BILD. Newly appointed non-exec Chair of the team’s board of directors Niki Lauda "has reportedly convinced company management that success will only come with a little more budget for the Brackley, England-based team." Mercedes will reportedly increase the budget of its F1 team by £35M ($56.1M) or about 30%. According to the company's '11 business report, the revenue of the Mercedes F1 team was £114.9M. This number is considerably less than Red Bull's, for example. Red Bull spent a total of £392M with 45% of it for Red Bull Racing and the rest for Red Bull Technology. In '11, the Mercedes F1 team made a £10.6M loss before taxes (AUTO BILD, 11/4).