Mercedes becomes first F1 team to exceed £500m turnover

The company that runs the squad, Mercedes-Benz Grand Prix Ltd., declared a turnover for 2023 of £546.5 million, which covers the year that ended December 31.This figure represents an increase of £71.9 million over the 2022 figure of £474.6 million.As a comparison, Red Bull Technology, the company behind Red Bull’s F1 team, had a turnover of £385.6m in 2022.However, despite the increase in …Keep reading