Red Bull Racing almost hits £200M turnover!

©WRI2

Red Bull Racing's most recent accounts show the Milton Keynes-based outfit generated revenue of nearly £200 million in its fiscal year 2016 .

The team took in £197,949,000 from sponsorship, prize money and bonuses from its F1 activities, a big part of which was obviously supplied by parent company Red Bull GmbH in Austria which contributed £40.6m, an amount which quadrupled compared to its investment in 2015.

Red Bull Racing earned just £385,000 after taxes and expenses in 2016 however.

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While last year's revenue was an increase of almost 10 percent over its 2015 numbers, it actually registered a much bigger profit of £2,141,000 in 2015.

Costs grew meaningfully in 2016, partly because of an increase in staff bonuses.

It's likely however that Formula 1's regulation change which necessitated the design of its 2017 new-spec cars was also a substantial burden on costs, and the main reason why Red Bull's Dietrich Mateschitz increased his company's sponsorship investment.

The swelling costs incurred in 2016 hasn't been all that effective this year however with Red Bull Racing's results falling short of expectations.

The team is currently third in the F1 Constructors' standings behind Mercedes and Ferrari, with six races remaining.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.