MARCH 17, 2008
Formula 1 is highest earning sport per event
The Sports Business Group at Deloitte has piublished details of a survey into profits in sports and has concluded that Formula 1 is the highest revenue generator, with the 18 Grands Prix in 2007 having an average revenue of $217m. This compares to NFL, which generates just $24m per game and the Premier League, which can claim only $8m per event. Based on overall income, however, F1 ranks third behind NFL and Major League Baseball, but remains ahead of the Premier League. The revenues comprise the central revenues (from broadcasting, race sponsorship and corporate hospitality), team revenues (including sponsorship and contributions from their commercial partners and owners) plus circuit revenues (from ticketing and certain sponsorships).
"Global revenues of more than $3.9 billion and total viewing figures in excess of 350m for the 2007 season make impressive reading," says Alan Switzer, Director in the Sports Business Group at Deloitte. "With measures such as the future Asian expansion, development of more ‚Äòlocal heroes‚Äô (potentially in India and China) and the introduction of night racing we would expect these figures to continue to rise."
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