F1 posts record £429.6m turnover as profit dips

Newly filed accounts show Formula 1 posted a record turnover of £429.6m ($574.2m) for the 2025 season, a 9% jump from £393.4m in 2024. But overall profit slipped to £19.4m from £29.5m, as administrative expenses climbed by £18.6m.

Why it matters:

F1's revenue model leans heavily on race-hosting fees, so any reduction in the calendar directly hits the bottom line. With the ongoing Iran War threatening Middle East grands prix, the 2026 season could deliver a very different financial picture.

The details:

• Turnover: £429.6m, up from £393.4m.
• Gross profit: £222.5m, up from £201.3m.
• Operating profit: £23.8m, up from £21.1m.
• Pre-tax profit: £19.958m, essentially flat from £19.938m.
• Tax charge: £552k, down from £9.5m.
• Overall profit after tax: £19.4m, compared with £29.5m in 2024.

The accounts cover the 24-race 2025 season, Lando Norris's title-winning campaign, and do not include any impact from the Iran War or potentially cancelled races in the Middle East.

What's next:

F1 has signed a 15-year lease for a new London headquarters on Broadway, Westminster, near Buckingham Palace and Parliament. The current St James' Market office, which has a break clause in 2027, is expected to be vacated as the new site becomes available in early 2027.

The true effect of the Iran War on F1's finances will only be known when the 2026 accounts are released in September 2027. Meanwhile, UK-based teams including Red Bull, McLaren, Williams, and Aston Martin are due to file their 2025 figures by the end of September.