QUOTE OF THE DAY

“If everything seems under control, you’re just not going fast enough.”

— Mario Andretti

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THE PRESTIGE OF FORMULA ONE

The fast and fabulous

Formula One (F1) is renowned for its prestige and sophistication. For some fans, attending a race is a testament to their social status, and for others, it highlights adrenaline’s gripping power.

An F1 race is a spectacle of nerve-wracking thrills, where the roar of engines and the blur of speed stir the blood like no other sport.

The contest’s unpredictable nature keeps fans on edge, making races an adrenaline-pumping experience.

Each season, the most iconic circuits draw thousands of fans, but they also attract the attention of the world media, affluent sponsors, and glamorous audiences.

Some might say it’s a playground for the wealthy, where billion-dollar teams compete for supremacy at breakneck speed while A-list pop culture icons eagerly soak up the glitz and celebrate with drivers.

With a stroke of luck, you might encounter esteemed guests such as Will Smith, Brad Pitt, Shakira, or Tom Cruise.

For decades, Formula One fused high-end technology, high-speed action, and high spending in the pursuit of victory at Grand Prix races.

It has also become one of the most financially-rewarding sports, where champions like Max Verstappen, Lewis Hamilton, or Charles LeClerc earn anywhere from $24 million to $55 million in one season.

Need for Speed

Back in the day, however, Formula One primarily embodied the efforts of fearless drivers striving for high-stakes perfection, achieving unity with their machines.

The modern era of Grand Prix racing began in 1946 in Turin, Italy, but the sport’s origins can be traced back to the daring French road races of the 1890s.

The 1895 Paris-Bordeaux-Paris, a 745 miles race, is considered the first true motor race in early F1 history. Back then, motor racing featured unreliable and heavy, upright cars on tarred sand or wooden roads.

Drivers teamed with mechanics, racing on public roads in lengthy town-to-town competitions.

In the past, Formula One cars’ speed during a race was not far from today’s staggering world record of 231 mph with an average speed of 160 mph. Yet, at the time, safety wasn’t a top priority.

Today, Formula One’s circuits face considerable financial and safety pressures to remain premier Grand Prix venues.

The iconic venues

Things have changed as technology has progressed.

Modern tracks are built to reduce speeds in pursuit of safety. Only a few locations preserve the exhilarating G-force-loaded, slipstreaming intensity that sets Formula One apart in auto racing.

Here are some of F1’s most iconic venues:

• Autodromo Nazionale di Monza in Milan, Italy – The oldest circuit on the Formula One calendar in the city park circuit on the outskirts of Milan has hosted a round of the modern World Championship every year but one since 1950.
• Circuit de Monaco in French Riviera – Opened in 1929, it’s considered one of the blue ribbon events. This incredible venue leaves onlookers torn between the thrilling action and the wealth of nearby super yachts.
• Circuit de Spa-Francorchamps in Belgium – One of the top challenges for a driver’s abilities and courage, which has raised safety concerns for years as the original track encompassed roughly 9 miles of winding roads in the Ardennes mountains.

The Formula One Grand Prix circuit keeps growing, too, as new race tracks periodically emerge, like the new races in Miami and Las Vegas this season.

Eyes on the prize

As the sport transformed into an extravagant and elite competition, the potential winnings for drivers soared, positioning them among the best-paid athletes worldwide, next to NBA, NFL, and European soccer players.

With such elevated stakes, it comes as little surprise that F1 racing is among the world’s most expensive sports.

Formula One allocates funds to the whole team rather than individual drivers, who receive salaries from their teams. The highest-ranking team in the constructors’ championship earns the most, with decreasing amounts for lower ranks.

Teams also profit from sponsorships, merchandise, and commercial agreements. In 2023 only, the prize pool allocated across the grid, based on the year’s final standings, amounts to over $900 million, drawn from an overall Formula One prize pot of approximately $2.2 billion.

Now, who wouldn’t want a piece of that?

Apart from the financial benefits, the most rewarding aspect is the respect that comes with being a part of the most successful teams, like Red Bull, McLaren, Ferrari, or Alfa Romeo.

On that note, did you know that one of the most successful drivers in the history of motorsports is an American, Mario Andretti?

Dive deeper

Read more about the history of Formula One and its most legendary drivers.

SEE YOU NEXT TIME!