Toyota join the F1 'cash cow': 'It makes perfect sense'
F1 News
When Bernie Ecclestone sold F1's commercial rights to Liberty Media in 2017, the Briton will doubt have thought he had made a good deal. Ecclestone received 8 billion dollars from the Americans, who now have regained their investment. Indeed, the competition is now so popular, it has become a cash cow.
Max Verstappen and Lewis Hamilton have fought incredible battles, many drivers became global stars thanks Drive to Surive, and the value of the teams and the sport have risen as well. "It's incredible. Today, Formula 1 is worth over 20, almost 30 billion euros. The teams are worth almost two billion euros. You can see the enthusiasm worldwide," said former F1 driver Ralf Schumacher.
A step up for Toyota?
Speaking to Sky Sports DE, the German argues the sport has managed to reach a "new dimension." And that this success attracts many to take part in the competition. This week, it was announced that Toyota Gazoo Racing will now become Haas F1's technical partners. Schumacher, who also drove for Toyota in the 2000s, understands completely why Toyota decided to join.
"Formula 1 is developing incredibly. It has become a cash cow. You make a lot of money worldwide. Toyota's image has not been particularly good recently. Hybrid technology is Toyota's bread and butter and that makes this logical," states Michael's brother, who says he expects both parties to gain from the partnership, especially Toyota.
"Toyota have everything, albeit in Cologne, which is an expensive location, but this could be the stepping stone to a big team," he concluded.
This article was written in collaboration with Ludo van Denderen
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11 October 2024
