Since 2023, McLaren has been making significant strides in the World Championship. A series of crucial upgrades during the 2023 Austrian Grand Prix secured the team a fourth-place finish among the constructors. Fast forward to the current season, and McLaren has taken the lead from reigning champion Red Bull. This sporting triumph has also translated into financial success; in 2023, McLaren reported a profit of a whopping thirty million euros.
After suffering losses in 2022, McLaren had a successful season last year, resulting in a much more positive financial balance. On the track, drivers Oscar Piastri and Lando Norris secured an impressive nine podium finishes. This comeback was accompanied by a profit of nearly thirty million euros, a significant improvement from a loss of nine million in 2022. The revenue of McLaren Racing, which competes in racing classes such as IndyCar and Formula E in addition to Formula 1, increased by thirty-one percent last year.
Climbing the Championship Ladder
According to motorsinside.com, this growth is primarily due to the improved position in the constructors’ championship. While McLaren finished fifth in 2022, the team secured the fourth spot in 2023. This single position makes a significant difference in the revenue a team generates. McLaren also attributes the increase to higher sponsorship income and a decrease in loan interest rates.
Furthermore, McLaren reports that its energy consumption remained relatively stable between 2022 and 2023, even showing a slight decrease. However, greenhouse gas emissions increased. As the British racing team is on track for its first constructors’ title since 1998, we can expect the revenue to be even higher in 2024. During the winter break, the team also managed to secure a number of new sponsors.
