Video: The enormous costs of hosting an F1 Grand Prix

The cost of hosting a Grand Prix can be astronomical for those wanting to welcome Formula 1.

First you need to have a circuit which meets the FIA Grade 1 criteria, which means either building one from scratch or doing up an existing venue to meet the demands which will be placed on it.

This includes aspects such as grandstands, run-off areas, pit infrastructure and the track itself.

This is on top of the race hosting fees circuits must pay for the privilege of hosting F1, so how much does it actually cost to host a Grand Prix?

The video below guides you through the mind-boggling estimated figures, which RacingNews365 has gathered through extensive work in the paddock with various sources.