Mercedes' F1 spending spirals to 242m

Sunday 03rd February 2013, 14:41 by TF1T Staff 

Mercedes AMG F1 Team

Mercedes' spending on its Formula 1 team has spiralled, according to its latest corporate accounts for the 2011 financial year.

The Anglo-German outfit spent £242.1 million, split by roughly 50/50 between their F1 team and engine division.

Whilst the team's expenditure dropped slightly by 0.2 per cent to £125.7 million, the Brixworth division, which designs and assembles their V8 engines, jumped by 54.2 per cent to £116.4 million.

The rise can be attributed to the research and development costs of the new 1.4 litre, V6-turbo charged engines, which are a requirement of the 2014 regulations.

The accounts show R&D spending increased by £17.3 million to £52.4 million, whilst employment levels across the board rose by 76 staff, totalling 989 in total. That accounts for a wage bill of over £60 million.

The team are coming under increasing pressure from the Mercedes-Benz board to deliver race wins, as well as reduce its expenditure.

LATEST NEWS

FERRARI

Raikkonen doesn't expect miracles from Mattiacci

MERCEDES

Mercedes set to finally debut radical new nose

red bull

Red Bull will accept that fuel sensors are correct

mercedes

Rosberg and Hamilton to have 'clear the air' talks

VIDEO | THE F1 MAGAZINE

The F1 Magazine - Chinese Grand Prix (Ep.5)

F1 NEWS

F1 looking to launch Historic Masters Series