Welcome at RacingNews365

Become part of the largest racing community in the United Kingdom. Create your free account now!

  • Share your thoughts and opinions about F1
  • Win fantastic prizes
  • Get access to our premium content
  • Take advantage of more exclusive benefits
Sign in
F1 2023

How much Formula 1 circuits are paying to host 2023 Grands Prix

There will again be 23 Formula 1 Grands Prix on the calendar in 2023, after the cancellation of the Chinese Grand Prix. Here's how long each circuit will be on the calendar - and what they're paying for the privilege.

XPB 1187681 Hi Res
Article
To news overview © XPBimages

In recent years, the Formula 1 calendar has undergone a considerable revamp - with record numbers of Grands Prix and the American and Middle-Eastern markets dominating.

Given the boom of F1, all some countries have to do for a spot of free advertising is say 'We're looking at hosting a Grand Prix', even if it is entirely unrealistic.

Some classics - such as Spa-Francorchamps - find themselves under threat as F1 seeks to maximise the income from race hosting fees, with the Middle-East a prime location.

In 2023, there will be races in Bahrain (the season-opener), Saudi Arabia, Qatar and Abu Dhabi - once again in its now-traditional season finale slot.

While F1 seeks to eke out the maximum bang for its buck, races in Miami and Las Vegas this year are somewhat unique - as F1 itself is taking on part of the cost of each race, so important they are to continuing the "explosive" growth the series is currently enjoying.

How much does the British Grand Prix pay?

Silverstone and the British Grand Prix hold a special place in F1's history as the venue for the first-ever World Championship Grand Prix on May 13th, 1950.

It has hosted the second-highest number of Grands Prix since then, only second to Monza which was only missing in 1980 when Imola stepped in.

The Northamptonshire venue's deal with F1 currently runs out at the end of 2024, meaning a negotiation about a new one will be required in the next year.

It is currently paying about $26 million per year for the honour of a slot on the calendar which is broadly inline with other European races.

			© Mercedes
	© Mercedes

Total cost of hosting fees

RacingNews365.com consulted several sources, including promoters, Formula 1 itself and the 10 teams to compile an overview of the current race hosting contracts each venue has with F1 - in terms of cost per race and contract length.

In total, the hosting fees came to about $711 million per year (£583 million, at the time of writing), with this money formulating most of the chunk of F1's yearly revenue.

Formula 1 Grand Prix contracts

Country Circuit Hosting Fee ($) Contract end Notes
Bahrain Sakhir 52 million 2036 Longest running contract
Saudi Arabia Jeddah 55 million 2030 May move to Qiddiya in future
Australia Albert Park 37 million 2035
Azerbaijan Baku 57 million 2024 Planning on 10-year deal
USA Miami Collaboration 2031
Italy Imola 21 million 2025
Monaco Monte Carlo 20 million* 2025 *10 million + percentage of tourist tax
Spain Barcelona 25 million 2026
Canada Montreal 32 million 2029
Austria Red Bull Ring 25 million 2023 Extension expected through 2026
Great Britain Silverstone 26 million 2024
Hungary Hungaroring 40 million 2027 Most expensive European race
Belgium Spa 22 million 2023 Set for rotation; probably no extension
Netherlands Zandvoort 32 million 2025 + option for 2 years/rotate with Spa?
Italy Monza 25 million 2024
Singapore Marina Bay 35 million 2028
Japan Suzuka 25 million 2024
Qatar Losail 55 million 2032
USA Austin 30 million 2026
Mexico H. Rodriguez 30 million 2025
Brazil Interlagos 25 million 2025
Las Vegas Las Vegas Collaboration 2025 Talked about extending through 2032
Abu Dhabi Yas Marina 42 million 2030

Also interesting:

Revealed: 2023 F1 driver salaries

How much money will F1's class of 2023 take home with them? It's easy to assume that the likes of Lewis Hamilton, Max Verstappen and Charles Leclerc are the sport's biggest earners, find out which F1 stars take home the biggest pay cheques:

Check out the video below:

0 comments

x
Exclusive Marko hints at possible AlphaTauri change