Red Bull Racing (Photo by Gongora/NurPhoto via Getty Images)
Red Bull Racing generated record-breaking revenue during its dominant title-winning campaign in 2023. Max Verstappen secured his third driver's championship while the team comfortably claimed its sixth Constructors' title, with both drivers finishing in the top two positions in the standings.
The Milton-Keynes-based team reported revenues of £307.4 million, up from £278 million in 2022. This marked a nearly £30 million increase, translating to a year-on-year growth of 10.43%. However, the report also indicated a decline in profits during the same period, with profits of £1.2 million compared to £2 million in 2022.
The report mentioned that increases in cost for the season were primarily driven by "success-based payments", reflective of the team's on-track performance. Having racked up 860 championship points last season, the team had to pay a $7.4 million entry fee ($657,837 and an additional $7,893 for each point scored in the 2023 season).
