Got an extra hundred million or two floating around and thinking of taking up a new hobby?
How about Formula One?
The average price of a Formula One racing car is 10 million US dollars.
For that you get the whole body plus parts of the car, although soon most new cars will have engines worth 14 million USD alone, but to get yourself on the track in a standard ( for F1) car, you can go a little cheaper for now.
The 14 million dollar engines are 1.6-litre turbo-charged V6 engines, and according to those in the F1 car business, they will soon be standard due to new rules being applied to racing.
A F1 gear box costs around 480,000 USD, and the cooling system on the car comes in at just under 160,000 USD. DO NOT GRIND THE GEARS!!!!
The cheapest thing on the car is the steering wheel, up to 50,000USD. Be warned, they are small, so essentially you are getting what you pay for. They do NOT come in a range of covers. Just so you know.
The cost of fuel for a years’ worth of practice and competition will come in at around $440,000 USD per car.
Obviously you might need more than one car, so you’ll need to add that to your budget.
Insurances are going to sting. F1 drivers tend to go fast, and the cars are built for speed, not solidity, so any nicks are bumps are going to see damage to the bodywork and pain job. Expect to pay premium when you speak with your insurers.
In order to race in the formula one circuit, you are going to need a lot of people to help you get ready. Companies like McLaren employ more than 600 people at a time just to wade through all the logistics of getting a car to the track. There are parts, uniforms, and sponsorship deals, not to mention mechanics, safety equipment, organisers and managers let alone drivers.
Let’s say, for the case of an argument, that you have decided to take up this sport, and you want to drive the car yourself.
After all, you are paying for it. Well, there’s a saving right there, only you will probably want someone to put the car through its paces when you are busy doing other things (counting your gold for example) so you will need to employ an extra driver or two.
Drivers salaries are high if they are good. Also you will need to include expenses for your team (for hookers, Victoria Secret Model’s meals – these are surprisingly cheap- and possibly cocaine, although we here at MGN do not encourage that type of behavior).
Formula One team members can be excitable, they may want to smash things on or near the track when things are not going well, or break things in hotel rooms when things are.
If you are buying into this sport, you might also want to consider buying a hotel chain. This initial cost may set you back a little, however you may recoup some of the cash if you get pictures of your team naked in the hotel swimming pool with the aforementioned Victoria Secrets Models. The hookers, not so much.
On the actual race day itself, expect to spend between 13-15 Million USD. That does not include big-ass champagne bottles or canapés for friends.
When you average it all out, a year’s worth of Formula One will cost you between 230 -300 million USD per year. This figure does not include the hotel chain, the helicopters getting you to and from the track, nor the snacks purchased from vending machines on race day.
If this all sounds reasonable to you, there are a number of websites with either new or used cars for sale, and someone you speak to will let you know how to get a team together in time for next year’s fun. Bon Chance!!!