Cost Of Hosting Formula 1 Grand Prix (Race Fees & Other Expenses)

Cost Of Hosting F! GP

It is a known fact that the cost of hosting the F1 Grand Prix is not every nation’s cup of tea. The cost varies countries to country. Some countries have already well-established race circuits. However, the new participants have to build the entire one. Same for handling tourists and International Standard hotels for drivers and stuff. One can only say that it’s not possible if governments don’t back up. So today we will take look at the hosting cost for Single Grand Prix.

Cost Of Hosting F1 Grand Prix :

Cities that host a Formula One race have paid a lot of money. However, hosting a Formula One race is a matter of great honor for a country or a city. It becomes the source of tourism opportunities along with itself. Although many countries submit bids to host a Formula One race and many bids were excepted, not every country has managed to sustain the costs involved. The biggest examples are India and South Korea.

Cost to host a F1 race : The cost of hosting a Formula One race highly depends on the duration of the contract signed. However, on average it costs around $40 million annually to host a Formula One weekend. However, new cities have to cover more expenses, for example, Saudi Arabia to host GP pays $55 million annually to host Formula One.

The high costs of hosting a Formula One race make it highly unlikely for the smaller countries to participate. Moreover, its firm believes that older racing venues like Italy, Britain, and Spain have below-average racing fees because of being they have existed for the longest time. Apart from this, there are various other expenses a host city, the country has to endure in order to hold a Formula One race.

Cost of Hosting F1 GP this season :

CountryCircuitHosting fee Contract ends
BahrainSakhir$45 million2022+ Renewal forthcoming
Saudi ArabiaJeddah$55 million2025 (May move to Qiddiya in the future)
AustraliaAlbert Park$35 million2023
ItalyImola$20 million2025 (Contract not yet signed)
United StatesMiamiCollaboration2031 (The circuit still to be approved)
SpainBarcelona$25 million2026
MonacoMonte Carlo$15 million2021 (Is on the calendar, renewal being negotiated)
AzerbaijanBaku$55 million2024
CanadaMontreal$30 million2029
FrancePaul Ricard$22 million2022
AustriaRed Bull Ring$25 million2022+ (Option for a multi-year extension)
Great BritainSilverstone$25 million2024
HungaryHungaroring$40 million2027
BelgiumSpa$22 million2022 (The new deal being negotiated)
NetherlandsZandvoort$32 million2023+ (Option for a two-year extension)
ItalyMonza$25 million2024
RussiaSochi$50 million2025 (Held at Igora Drive Circuit from 2023 onwards)
SingaporeMarina Bay$35 million2021 (Is on the calendar, renewal being negotiated)
JapanSuzuka$25 million2024
MexicoH. Rodriguez$25 million2022
United StatesAustin$25 million2021 (Is on the calendar, renewal being negotiated)
BrazilInterlagos$25 million2025
Abu DhabiYas Marina$40 million2030
ChinaShanghai$50 million2025 (Returns in 2023)
QatarLosail$55 million2031 (From 2023 onwards)