Today's F1 News Delivered Faster Than a Pit Stop
Red Bull achieved a milestone with net sales surpassing €10bn for the first time last year, driven by a 4.8% increase in the sale of over 12 billion cans of its energy drink. Despite a slowdown in the pace of expansion compared to previous years, the Austrian company's net revenue, excluding discounts, rose by 9% to €10.5bn. Red Bull, founded in 1987, now operates in 177 countries and boasts its history's best-ever sales, revenue, and operative profit levels. The beverage sales remain the primary growth driver, with the company expanding its sports investments, including a historic €1bn in sponsorship payments and regulatory approval sought for a majority stake in a cycling team.
Click here to read the full article by Marton Eder (irishexaminer.com)
Mercedes has confirmed that James Allison, their technical director since 2017, has signed a "long-term" extension. Allison, who played a crucial role in the team's success from 2017 to 2020, temporarily moved to the position of chief technical officer in 2021 before returning to the technical director role. His extended contract will keep him in the position through the significant technical regulation changes in 2026. Team principal Toto Wolff expressed excitement about Allison's commitment, praising his leadership and influence.
Click here to read the full article by Will Wood (racefans.com)
According to the Ministry of Trade and Industry, Singapore's Formula 1 race is unaffected by the corruption probe involving former transport minister S. Iswaran and event promoter Ong Beng Seng. Iswaran faces charges related to alleged kickbacks from Beng Seng, but Singapore authorities emphasize that the race deal, valid until 2028, was carefully considered, with no evidence of disadvantageous structuring. The ministry reassures preparations for the 2024 Singapore Grand Prix are on track, highlighting the event's significant benefits, such as attracting international visitors and generating SGD 2 billion in tourism revenue.
Click here to read the full article by Jonathan Noble (motorsport.com)
McLaren dropped a bombshell announcement when they became the first F1 team to unveil their 2024 F1 livery. While there were subtle hints on their social media about the surprise unveiling of the 2024 McLaren Livery, it took many by surprise, including Kym Illman. So Kym shares his insights on the new livery and speculates its visual impact from a photographer's perspective.
Valtteri Bottas is currently in Australia, where he made a switch from his car to a bike, joining professional cyclist and his Australian girlfriend, Tiffany Cromwell. The dynamic duo, humorously referred to as the "pair of speedos," made an appearance on 'The Project.' During the show, Bottas discussed his time in Southern Australia, their cycling adventures together, and the Stake F1 team.