A deficit in 2023
Red Bull ended 2023 in the red. Despite a record season, securing both Formula 1 titles well in advance, with a total of 860 points and 21 wins out of 22 races, the Milton Keynes team recorded a significant revenue loss, closing the year with profits of £1.296 million, about £800,000 less than the £2.057 million of 2022.
This information emerged from documents released by Companies House, the UK government agency responsible for registering and managing company information, which all British businesses or foreign companies with headquarters or branches in the UK are required to register with.
In terms of revenue, however, the Anglo-Austrian team can boast a nearly £30 million increase, closing 2023 with £307 million compared to £278 million the previous year.
“The increases in the cost base are primarily driven by performance-based compensation, reflecting the team’s results in 2023,” the company revealed.
This figure is expected to rise at the end of this season, as the 860 points earned in 2023 have resulted in the team’s entry fee for the 2024 championship amounting to a hefty $7.4 million, over $1.2 million more than in 2022.
However, Christian Horner and Helmut Marko are smiling. According to the report, the team principal and the Austrian advisor received a combined compensation of £7.190 million in 2023, compared to £3.447 million the previous year.
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