George Russell leading the 2022 Sao Paulo GP
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The financial landscape of Formula 1 reveals a significant uptick, with a 24% revenue surge in the third quarter of 2023—from $715 million in 2022 to a formidable $887 million. Against the backdrop of evolving regulations and technological advancements, the sport’s paradigm shift includes a game-changing cost cap, fostering profitability and sustainability. 

Propelled by expanding media rights and burgeoning TV revenue, especially with a remarkable 36% rise in U.S. viewership, Formula 1’s global resonance is poised for unprecedented growth. Against this backdrop, delve into the intriguing journey to unveil the rankings and values of the top ten F1 teams and discover which team takes the crown as the most valuable F1 team. All the team valuations have been reported by Forbes Magazine.

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10. Williams Racing – $725 million

Williams has a rich history in Formula 1, with a legacy of innovation and competitiveness. A British Formula One team founded by Frank Williams and Patrick Head, Williams Racing, emerged in 1977. Operating from Grove, Oxfordshire, on a 60-acre site, the team initially used March chassis before manufacturing its cars in 1978. The team is the second most successful team with 9 championship wins but hasn’t won any in the last 25 years.

Williams F1 team Williams F1 team
Williams F1 team (Credits: Gulf Oil)

In 2020, Dorilton Capital acquired Williams Racing, marking the end of the era with Frank and Claire Williams stepping down in September. Despite recent challenges, the team remains a symbol of resilience and passion for racing. With a value of $725 million and an estimated 2023 revenue of $160 million, Williams is poised for a resurgence under Alex Albon’s leadership, helped by his young teammate, Logan Sargeant. Their lead sponsors include Gulf, Duracell, and Kraken. 

9. Haas – Valued at $780 million

The youngest team on the grid, Haas F1 Racing debuted in 2016. The team established by NASCAR Cup Series team co-owner Gene Haas in April 2014, entered Formula 1 with a unique approach and quickly established itself as a team capable of challenging the midfield. The team has a variety of sponsors, helmed by Money Gram as their title sponsor.

Haas F1 teamHaas F1 team
Haas F1 team (Credits: Planet F1)

Haas became the first American constructor since the 1980s, entering after the US F1 project’s setback in 2010. Acquiring Marussia F1’s assets, Haas established a forward base in Banbury, England. Haas has encountered some financial constraints in the last couple of years but has bounced back decently. Valued at $780 million, with an estimated 2023 revenue of $180 million, Haas stands as the 9th most valuable team in F1. Nico Hulkenberg, their recent addition, and his teammate, Kevin Magnussen are poised for a better season after a difficult 2023 season. 

8. Alfa Romeo Sauber – $900 million

The Sauber F1 team carries the legacy of one of the oldest and most storied brands in motorsports. Alfa Romeo Sauber F1 Team, born from the historic collaboration between Alfa Romeo and Sauber Motorsport AG, epitomizes a compelling legacy in Formula One. Alfa Romeo, a revered Italian automaker, initially engaged in F1 from 1950 to 1987 as an engine supplier, resurfacing in 2015 as a commercial partner. 

Alfa Romeo car launchAlfa Romeo car launch
Alfa Romeo car launch (Credits: X)

The team, formerly Sauber, transitioned to the Alfa Romeo F1 Team in 2019 through a partnership, marking a full return to the sport. With a valuation of $900 million and an estimated 2023 revenue of $210 million, the team is set for a significant transformation as it prepares for rebranding under Audi in 2026. Both their drivers, Guanyu Zhou and Valtteri Bottas have a deal locked in for a couple more seasons. 

7. AlphaTauri – $1.125 billion

The AlphaTauri F1 team, formerly recognized as Scuderia Toro Rosso, boasts a compelling Formula 1 legacy. Established in 2006 as Toro Rosso, it emerged as a breeding ground for Red Bull’s young driving talent, inheriting the legacy of the Minardi team. Sebastian Vettel achieved a fairy tale win for the team on their home turf in 2008. Emphasizing talent development, the team propelled drivers like Vettel, Daniel Ricciardo, and Verstappen to stardom. 

AlphaTauriAlphaTauri
AlphaTauri (Credits: Formu1a.uno)

Rebranded as AlphaTauri in 2020 to showcase Red Bull’s fashion brand, the team, renowned for crafting its F1 cars, remains a formidable presence, consistently competing in the F1 World Championship and providing opportunities for emerging talents. Valued at $1.125 billion and projecting an estimated revenue of $260 million in 2023, AlphaTauri remains dedicated to fostering talent and advancing technology. Significant changes are on the horizon for the team as it gears up for the 2024 season. The team will feature Daniel Ricciardo and Yuki Tsunoda for the next year. 

6. Aston Martin – $1.375 billion

Aston Martin has reentered the realm of Formula 1, marking its resurgence with an unwavering commitment to excellence and high performance. The team, presently recognized as Aston Martin Aramco Cognizant F1 Team, boasts a storied Formula 1 legacy originating in 1959 as the Jordan Grand Prix team. Over the years, it evolved through various iterations—Midland, Spyker, Force India, and Racing Point—before adopting the prestigious Aston Martin moniker in 2021. 

Fernando Alonso and Lance Stroll during Aston Martin launchFernando Alonso and Lance Stroll during Aston Martin launch
Fernando Alonso and Lance Stroll during Aston Martin launch (Credits: Sky Sports F1)

In a remarkable three-year span, the team has ascended to the forefront, securing a notable 5th place from the major contributions of Fernando Alonso and his teammate, Lance Stroll in the 2023 season. Valued at $1.375 billion, the team, under the visionary ownership of Lawrence Stroll, harbors ambitious plans for a future ascent. The epitomizes a Silverstone-based F1 powerhouse with state-of-the-art facilities, including a newly constructed wind tunnel.

5. Alpine – $1.4 billion

Originally known as the Renault F1 Team, the Alpine F1 Team underwent its most recent renaming in 2021. Aiming to showcase the prowess of the French car manufacturer’s sports car brand, the team achieved a commendable fourth place in the 2022 constructors’ championship. However, after a difficult 2023 season, the team signaled a huge overhaul of their organization. Recent management changes, including the appointment of Philippe Krief as CEO, signal a strategic shift. However, the team has locked in their all-French team pairing of Esteban Ocon and Pierre Gasly

Esteban Ocon and Pierre gasly at Alpine's A523 launchEsteban Ocon and Pierre gasly at Alpine's A523 launch
Esteban Ocon and Pierre Gasly at Alpine’s A523 launch (Credits: Reuters)

The team’s valuation at $1.4 billion, coupled with a projected 2023 revenue of $325 million, attracts high-profile investors like Ryan Reynolds and Michael B. Jordan, aligning with a vision to elevate Alpine F1’s global profile through strategic initiatives in media, sponsorship, ticketing, hospitality, commercial rights management, licensing, and merchandising. The convergence of French flair and racing pedigree positions Alpine for a dynamic future in Formula 1.

4. McLaren – $2.2 billion

McLaren, an iconic name in Formula 1, boasts a rich history that traces back to its establishment in 1966. Originally founded by Bruce McLaren, the team has evolved and reshaped itself over the decades. The team was once the most dominant force in F1 and bore witness to legends such as Ayrton Senna, Alain Prost, Mika Hakkinen, and Lewis Hamilton.

Lando Norris with his MCL60Lando Norris with his MCL60
Oscar Piastri with his MCL60 (Credits: Racing News 365)

The team has recorded 8 constructor titles but has amassed a massive 12 world titles that should put them behind Ferrari as the most successful team in the sport. The tea has attracted huge numbers of sponsors and ranks as the team with the most sponsors on the grid. Valued at $2.2 billion with an estimated 2023 revenue of $490 million, McLaren continues to push the boundaries with their young pairing of Lando Norris and Oscar Piastri

3. Red Bull Racing – $2.6 billion

Established in 2004 by Dietrich Mateschitz, Red Bull Racing, a Formula 1 powerhouse, has transcended traditional racing norms with a distinct vision. Based in Milton Keynes, the team has secured 113 race victories and fostered world-class talent, including champions like Verstappen and Vettel. Red Bull Racing continually strives to redefine excellence in the realm of motorsports. 

Red Bull team celebrating their 2023 winRed Bull team celebrating their 2023 win
Red Bull team celebrating their 2023 win (Credits: KTVZ)

Red Bull has become a dominant force in Formula 1 since the start of the Downforce era and has racked up a total of 6 constructor titles. The team is known for its aggressive marketing and competitive spirit. With a value of $2.6 billion and a projected 2023 revenue of $510 million, the team, led by Max Verstappen and Sergio Perez is poised to take on a hatrick of championships in 2024. 

2. Mercedes – $3.8 billion

Mercedes has set the standard for excellence in the modern era of Formula 1. The team faced initial challenges when purchased from the reigning champions, Brabham in 2010. However, come the V6 Turbo Hubrid era, the team has defined the word dominance racking up 8 consecutive constructor titles and seven driver titles, to sit as the fourth most successful F1 team. 

Mercedes F1 team, Lewis Hamilton, George Russell and Toto WolffMercedes F1 team, Lewis Hamilton, George Russell and Toto Wolff
Mercedes F1 team, Lewis Hamilton, George Russell and Toto Wolff (Credits: The Drive)

With the success they have achieved, it comes as no surprise that they have attracted a variety of sponsors. Also, the team features two of the most popular drivers of F1, Hamilton and George Russell. The team’s valuation stands at $3.8 billion, and it is expected to generate a revenue of $700 million in 2023 alone. Mercedes is also the engine supplier for two of the other teams, McLaren and Williams. Given that they only took form in 2010 and stand second as the most valuable team is an incredible achievement. 

1. Ferrari – $3.9 billion

Ferrari, an unparalleled name in Formula 1, holds the distinction of participating in every Grand Prix, exemplifying an unrivaled legacy. Renowned for its scarlet livery symbolizing racing heritage and unyielding determination, the team, founded by Enzo Ferrari, epitomized domination in F1. 

Carlos Sainz on his Ferrari after his Singapore GP winCarlos Sainz on his Ferrari after his Singapore GP win
Carlos Sainz on his Ferrari after his Singapore GP win (Credits: Scuderia Ferrari Fans)

With an impressive tally of 16 Constructors’ Championships and 15 Drivers’ Championships, Ferrari, worth $3.9 billion with an estimated 2023 revenue of $680 million, remains the foremost powerhouse in the F1 landscape. The charisma of their current drivers, Charles Leclerc and Carlos Sainz has further enamored fans globally.

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