It has been quite the turnaround for McLaren. F1
McLaren Racing CEO Zak Brown revealed the stark turnaround of the team’s financial situation since his arrival as the F1 boom rolls on.
But it is not only these factors which are making Formula 1 a profitable business now for teams, as the budget cap now heads into its third season of operation for 2023, set at $135 million. Becoming CEO of McLaren Racing in April 2018, Brown said there were documented losses of £100m when he arrived, which has now morphed into the team making a profit.
“And certainly the journey that McLaren has been on, TV ratings up, record number of races, record number of attendees, digital through the roof, it’s awesome.
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