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Mercedes financial numbers show 'painful' cost cap a boon to bottom line
The Mercedes F1 team has released its financial numbers for 2021, its first report under the sports' new cost cap regime. Adapting to F1's spending limit was a "painful and difficult" process, according to co-team owner Toto Wolff, but the financial constraint also produced a remarkable boost to the Mercedes outfit's bottom line. The reigning world championship outfit's revenue for 2021, originating mainly from sponsorship and prize money, grew from £355.3m to £383.3m, while spending - cost cap oblige - fell from £324.9m in 2020 to £297.4m, or by £27.4m. Mercedes therefore clocked in with a £68.8m year-over-year profit, compared to £13m in 2020, a season marked heavily it...
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