Publications
Partners
F1's financial loss widened in 2010 but Bernie Ecclestone took a pay-rise, documents filed in London's Companies House reveal.
The Bloomberg business news agency said the loss incurred by F1 owner CVC grew to R4.4bn, while overall teams' income rose by 21%.
The teams' prize money pool in 2010 was R4.4bn, an average of almost R368m per team, but with champions Red Bull receiving the most.
The prize money has increased for three years running, due to the negotiation of much better financial terms when the latest Concorde Agreement was drawn.
Teams now receive 164% more income than was the case in 2007, before the new Concorde Agreement took effect.
The documents revealed that F1's total sales in 2010 was R6.6bn (up by 2%), due to new races including Korea joining the calendar.
The sport's net income was R1.9bn, with chief executive Ecclestone paid R52m (a 21% increase).
The Bloomberg business news agency said the loss incurred by F1 owner CVC grew to R4.4bn, while overall teams' income rose by 21%.
The teams' prize money pool in 2010 was R4.4bn, an average of almost R368m per team, but with champions Red Bull receiving the most.
The prize money has increased for three years running, due to the negotiation of much better financial terms when the latest Concorde Agreement was drawn.
Teams now receive 164% more income than was the case in 2007, before the new Concorde Agreement took effect.
The documents revealed that F1's total sales in 2010 was R6.6bn (up by 2%), due to new races including Korea joining the calendar.
The sport's net income was R1.9bn, with chief executive Ecclestone paid R52m (a 21% increase).