Ferrari lead as Sportico’s F1 team values soar past US$34 billion

LONDON – Ferrari are the most valuable of the 10 franchises in Formula One, according to Sportico’s latest team valuations published on Nov 13.

The Italian team checked in at US$6.4 billion (S$8.3 billion) and the 10 teams on the F1 grid combine to exceed US$34 billion in total valuation as per Sportico’s methodology.

The average F1 franchise value is now higher than the average value of a Major League Baseball (MLB) club, the sports industry news website found.

F1‘s US$3.42 billion average valuation clears MLB’s average of US$2.82 billion, behind only the National Football League and the National Basketball Association in average franchise value.

“The 10 teams shared total prize money payments of US$1.27 billion in 2024, up from US$1.22 billion the prior year,” Sportico reported.

“The distributions consider the previous year finish by teams on the track in the constructors’ standings, as well as the current year revenue of Formula One. Title-winning teams and teams who finished in the top three over the past decade are eligible for additional payments.

“Ferrari gets an additional bonus that runs into the tens of millions of dollars because of its historical standing in the sport.”

After Ferrari, Mercedes came in second with a US$5.88 billion valuation, followed by McLaren (US$4.73 billion) and Red Bull (US$4.32 billion), the home of four-time champion Max Verstappen.

The least valuable team, Haas, were still worth US$1.68 billion, more than Sportico’s valuation of the Milwaukee Brewers (US$1.63 billion) baseball team.

In other news, Sergio Perez drove a Formula One car for the first time in almost a year, with the Mexican testing for Cadillac on Nov 13 at Italy’s Imola circuit in a 2023 Ferrari.

Backed by General Motors, Cadillac do not have a previous car of their own but will be using Ferrari engines when they debut next season as Formula One’s 11th team, with a line-up of Perez and Finland’s Valtteri Bottas.

Photos published online showed an all-black car running unbranded at the circuit, while Perez wore black overalls and helmet.

The 35-year-old told Reuters earlier in the week that the session, his first since his last race for Red Bull in December 2024, was important for the team to practise procedures, refine the simulator and prepare for future race weekends.

“It’s basically just a time for us to be able to get together with the engineers, mechanics, start working all together, you know, start talking the same language,” said the experienced Mexican.

“I’m curious, you know, to find out how many laps my neck will do before it gets destroyed,” he added with a smile.

“But it’s great... a great test and a great way to finish the year before getting back in the car next year.”

Bottas, 36, has had a year away from racing as well after leaving Sauber but is currently Mercedes’ reserve driver and attending grands prix. REUTERS