Formula One world champions
Mercedes-Benz reaping rewards on and off the race track
LONDON — Formula One world champions Mercedes are reaping the financial rewards of their dominance on the track, according to the team’s latest accounts. Figures published by Mercedes-Benz Grand Prix on Tuesday showed a loss after tax of £22.3m from a previous £76.9m with the team remaining on course to break even. Turnover increased £66.3m thanks to additional sponsorship revenues and more money from the sport’s commercial rights holder as a result of the team’s improved performance in 2014. Mercedes said their agreement with the commercial rights holder meant revenue flows based on sporting performance would be "significantly increased" from 2016 onwards as a result of their track dominance. "The future outlook for sponsorship revenues is also very promising," the team said. Turnover, which does not include any contribution from majority shareholder and Mercedes’ parent Daimler, has grown 86% since 2011 — a current £213m compared to £115m. Operating costs rose £8.1m, or 3.5%, main...
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