Quote:
Originally Posted by DrFerry
Only in America.. "Don't have a track in your city? No problem we'll just build a temporary one for you." Man there must be money in Miami - and in the ticket sales to warrant such a venue when Austin already has a permanent track.
|
Temp circuits are the cheap way out. Building a permanent circuit is very costly to build and maintain through the years. COTA has had financial problems since it has been open. Miami GP temp circuit just goes back to being Stadium parking lot when not in use. No infrastructure to keep running year round.
Quote:
Originally Posted by DrFerry
Only in America.. "Don't have a track in your city? No problem we'll just build a temporary one for you." Man there must be money in Miami - and in the ticket sales to warrant such a venue when Austin already has a permanent track.
Go figure the economics of F1. Assume roughly a combined 350,000 fans show up from South America and North America (link below from Austin GP headcount). Assume an average ticket cost of $300 (just a wild guess by me). Then we get 350,000 X $300 = $105,000,000 ($105M). The cost of hosting an F1 event was estimated in 2017 by Forbes to be $1B (link below). Given the costs to build the temporary circuit, surely the organizers are losing money? Perhaps my math is wrong because Jalopnik (I hate that site) said back in 2021 some tickets are costing thousands of dollars.. But at $1000 a ticket X 350,000 people still equates to way less than $1B.
|
Main thing your are leaving out is sponsorship money. There is also revenue from merchandise sales, concession stands, parking. Think how many $12 beers they sell. The average tickets are above $300 as well. Cheapest GA tickets right now are $400+. Paddock club tickets are going for over $10k.