Red Bull backing for Formula One team up nearly 50%
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The energy drinks company Red Bull increased financial support to its Formula One operations by 47 per cent last year, according to the latest figures from its Milton Keynes-based racing team. Red Bull Technology received £85.6m from its parent company in 2006.
Capital expenditure increased by 45 per cent to £22.7m as the company invested in hi-tech plant, equipment and a freehold building in London's fashionable Soho Square for its marketing operations. Red Bull also has the most lavish motor home in the F1 paddock – a £5m three-storey structure with two bars, two terraces and a hydraulically operated roof. It is also the only team to print its own magazine at every race, believed to cost £3.5m a year.
The team's operating expenditure soared to £106.7m, with staff numbers rising 32 per cent to an all time high of 478. The design department got one of the biggest boosts with a 36 per cent increase in its numbers, while the R&D budget increased by over a third to £16.7m.
After-tax profit fell by £1m to £744,000 on turnover of £107m. This year the team, featuring drivers David Coulthard and Mark Webber, improved by two places to finish fifth.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments