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What’s it cost to compete in Formula One? An IndyCar comparison

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Christian Sylt and Caroline Reid cover the business of Formula One. More of their work can be found at FormulaMoney.com.

The cars lining up to compete in this weekend’s Monaco Grand Prix and Indy 500 may appear the same. However, with even the smallest Formula One teams running on budgets around five times those of their leading IndyCar rivals, the similarity is only skin deep.

The casual observer might be forgiven for thinking that IndyCar has the superior technology, as Ed Carpenter set a pole position lap speed of 228.8 mph for this year’s Indy 500; Mark Webber’s top qualifying lap at the twisty Monaco track last year was just 100.4 mph.

In reality, the IndyCar teams purchase controlled-cost specification chassis from Dallara, whereas their F1 counterparts are involved in a costly high tech arms race to make it to the front of the grid. Unlike IndyCar teams F1 competitors are ‘constructors’ who build their own chassis — and in the case of Ferrari and Mercedes their own engines — at a cost of hundreds of millions of dollars annually.

The leading F1 teams are constantly developing their machinery in order to eke out the extra split-seconds that will edge them ahead of their rivals. Big name brands such as Red Bull and Mercedes are willing to foot the bill because F1 is the world’s most watched annual sporting event and puts their brands in front of half a billion people worldwide.

As a result, the biggest spending F1 team Ferrari will run on an estimated budget of $470 million in 2013. This is more than 30 times the estimated $15 million budget of the leading IndyCar teams such as Ganassi and Andretti Autosport. The figures — supplied by Formula Money — below explain how the money is spent.

TOTAL BUDGET
Top F1 team: $470 million; Top IndyCar team: $15 million

This includes the following key areas of spending:

THE CAR
Top F1 team: $125 million; Top IndyCar team: $3 million

The largest single cost for most F1 teams is the design, development and construction of a bespoke chassis. F1 teams must construct their own chassis and although the manufacturing costs of an F1 car are a relatively small $15 million per year, top teams can spend well over $100 million on research and development.

All IndyCar teams must buy their chassis from series provider Dallara. The price is $345,000 per chassis, but the purchase of aerodynamic packages designed for different circuits can add another $150,000-$200,000. A team typically gets through three chassis per driver each year.

THE ENGINES
Top F1 team: $130 million; Top IndyCar team: $2 million

F1 manufacturers such as Ferrari and Mercedes spend more than $100 million annually on engine development. This is principally to supply their own teams, but they are required to also supply other teams with engines and typically charge $13 million per season to do so.

Honda and Chevrolet typically charge IndyCar teams around $1 million per year per driver for an engine package which will allow the use of eight engines.

TESTING
Top F1 team: $15 million; Top IndyCar team: $1 million

Restrictions on F1 testing in recent years have seen budgets slashed from $35 million to $15 million annually in order to cut costs. This is still far larger than the IndyCar teams’ $1 million annual spending.

DRIVERS
Top F1 team: $47 million; Top IndyCar team: $3 million

Two times world champion Fernando Alonso is one of the highest paid sports stars in the world, receiving an annual salary of $40 million from Ferrari. In contrast leading IndyCar drivers receive $1-2 million per year. Unlike F1 drivers they also receive prize money – $2.5 million for Dario Franchitti when he won last year’s Indy 500 – but are usually expected to give at least half of this to their team.

ENTRY FEE
Top F1 team: $3.3 million; Top IndyCar team: $456,000

F1’s governing body, the FIA, operates a complex system for entry fees where each team is charged a basic fee of $500,000, plus $6,000 per point scored in the previous season for the constructors’ champion and $5,000 per point for everyone else. This has left 2012 champion Red Bull Racing with a bill of $3,260,000 this year. In contrast, IndyCar teams pay $12,000 per car per race.

HOSPITALITY
Top F1 team: $13 million; Top IndyCar team: $1 million

Hospitality may seem like a frivolous extra but it is a crucial part of how an F1 team operates. Sponsors spend up to $100 million annually so expect to receive silver service treatment when they visit a Grand Prix. A top F1 team can spend more on hospitality in a season than an IndyCar team spends on its entire budget. In contrast leading IndyCar teams may spend up to $200,000 at a showpiece event like the Indy 500, but far less at other races.

KEY SUPPLIES
Top F1 team: Free; Top IndyCar team: $1 million

One area where IndyCar costs far outstrip F1 is in the area of key supplies. Due to the high level of exposure F1 generates, many companies are keen to supply top level products free of charge in return for becoming an official partner of the team. Ferrari, for example, has sponsorship from a range of automotive companies including Shell (gas), SKF (bearings), NGK (spark plugs), Magneti Marelli (electronics) and Brembo (brakes). A typical top IndyCar team spends around $1 million a year on purchasing similar supplies.

OTHER
Top F1 team: $136.7 million; Top IndyCar team: $3.5 million

*Includes salaries, travel and factory costs.

Longtime Knoxville Raceway promoter, Ralph Capitani, dies

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Photo via @KnoxvilleRaces Twitter
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Knoxville Raceway likely wouldn’t be what it is as one of the country’s most renowned short tracks without the work of Ralph Capitani.

Capitani has died following a battle of cancer (according to Speed Sport), news of which was announced Monday by the track. The longtime promoter at the track was born in 1932.

Capitani, better known as “Cappy,” oversaw a huge rise in the stature and popularity of the track’s premier event – the Knoxville Nationals – after taking the reins as the track’s new race director and promoter in 1978.

Some of the elements Capitani worked to implement were improved facilities, purses, safety standards, car counts and audience, the latter of which saw the Knoxville Nationals eventually make it to TV. He also established the Knoxville Raceway Hall of Fame.

In his 40th year at Knoxville in 2007, Capitani said the prestige of the Knoxville Nationals remained incredible.

“I think the Knoxville Nationals is the best sprint car race of the year, bar none,” he said in 2007, via InLappedTraffic. “It is the only time you see ALL of the best sprint car drivers competing on the same playing field. It is a United States and Internationally wide event.”

He retired from the track at the end of 2011.

Knoxville Raceway released a statement confirming Capitani’s passing, and thanking him for all he did to put the track and race on the map.

A portion of the statement reads: “A visionary in the sport, Cappy aimed to make sprint car racing at Knoxville Raceway grander, the purses bigger and the grandstands fuller. He achieved them all with a smile on his face and a hearty handshake for every team owner, driver, crew member and fan that ever crossed his path.”

IndyCar’s last big pre-season test occurs this week at Sebring

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Conor Daly. Photo: IndyCar
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Pre-season testing for the 2017 Verizon IndyCar Series season will conclude this week with all eight full-season teams having two days at Sebring International Raceway’s short course on Tuesday and Wednesday.

Sebring marks the closest venue to simulate street course conditions; four of the first eight races are street races while only one street race, Toronto, occurs in the second half of the season.

Although this is private testing, this will be a de facto “spring training” on the 1.5-mile road course for teams to see what the others are running all at once. IndyCar’s official spring training, the Prix View test at Phoenix International Raceway’s 1-mile oval, occurred on February 10-11.

The bulk of the field runs tomorrow, with seven of the eight teams set to test – the only exception is Andretti Autosport. Andretti is listed to test on Wednesday.

All but one of the 21 full-season drivers expected for the Firestone Grand Prix of St. Petersburg season opener on March 12 will test this week. The one not listed is Sebastien Bourdais of Dale Coyne Racing; Bourdais and Ed Jones tested at Sebring in January prior to the Rolex 24 at Daytona.

They’ll be joined by the three drivers making their test debuts, all for Schmidt Peterson Motorsports: Robert Wickens, Luis Felipe “Pipo” Derani and Luis Michael Dorrbecker.

Wickens tests tomorrow as part of his planned ride swap with James Hinchcliffe, with Derani and Dorrbecker set to test on Wednesday.

Sebring is usually a hotbed for tests over the IndyCar offseason. This year saw A.J. Foyt Enterprises (in late January with Chevrolet) and Chip Ganassi Racing (in early January with Honda) premiere their new manufacturers and aero kits at Sebring, among other teams that have tested here.

Although the test season has seen an increase in interest this year, the regular season starts in St. Petersburg and returns to NBCSN with Long Beach on April 9.

F1 Paddock Pass: 2017 launch roundup (VIDEO)

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The NBC Sports Group original digital series Paddock Pass returns today with a recap of the remaining launches of the 2017 Formula 1 cars that occurred over the weekend.

Williams was first to reveal a rendering of its 2017 car, but it wasn’t a formal launch. Sauber’s online launch properly kicked off proceedings last Monday, before Renault, Force India and Mercedes did actual launches, and then Ferrari (online) and McLaren (in Woking) both launched on Friday.

Official launches then followed for Williams, Red Bull, Haas and Toro Rosso over the weekend. Haas had pictures of its car leak the day before its planned launch as it was a filming day on track.

In this edition of Paddock Pass, NBCSN pit reporter and insider Will Buxton and producer Jason Swales recap the remaining cars revealed over the weekend.

Previous Paddock Pass editions from this week are below:

Testing continues this week with days two through four of the first test at Barcelona.

Alonso’s McLaren struggles on first day of F1 tests

MONTMELO, SPAIN - FEBRUARY 27: Fernando Alonso of Spain driving the (14) McLaren Honda Formula 1 Team McLaren MCL32 on track  during day one of Formula One winter testing at Circuit de Catalunya on February 27, 2017 in Montmelo, Spain.  (Photo by Dan Istitene/Getty Images)
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MONTMELO, Spain (AP) Troubled Formula One team McLaren has gotten off to a wretched start in preseason testing.

Fernando Alonso spent most of the first day waiting to get back out of the garage after his car broke down following just one lap at the Circuit de Barcelona-Catalunya on Monday.

What the team identified as an “oil system” malfunction to its Honda-made engine kept the two-time world champion out of action until after the lunch break. Back behind the wheel, his 29 total laps was the lowest amount of the 11 drivers who participated.

Alonso also posted the second-slowest time, more than three seconds off the leading pace set by Lewis Hamilton in his Mercedes. Only Sauber’s Marcus Ericsson was slower.

“It’s disappointing,” Alonso said. “You work for three months and at the track on the installation lap something breaks down and you lose the day.”

This misstep is the latest technical hiccup to plague McLaren since it paired up with Honda.

One of F1’s most successful teams with eight constructor titles and 12 driver titles, the British outfit has struggled since it switched from Mercedes to the Japanese automaker before the 2015 season.

After earning just a combined 27 points from Alonso and Jenson Button in the first year with Honda, the team showed some growth last season with 76 points and two fifth-place finishes. But that is still a far cry from the glory days of the Woking-based team whose last race win was in Brazil in 2012.

For his part, Alonso hasn’t won a race since he claimed his 32nd victory back in 2013 at the Spanish Grand Prix while with Ferrari.

“It is fair to say that after the difficulties we had the last three seasons, it’s a nice temptation for the media,” Alonso said.

“From the point of view of the team, we are disappointed and sad to arrive to the first day of testing and not run.

“We are focused on what we have to do to make up the lost time. We know that we have four days for each driver and now one day is gone to prepare for the world championship.”

Stoffel Vandoorne, who has replaced Button, will get his turn for McLaren on Tuesday.

McLaren team chief Eric Boullier acknowledged that the relationship with Honda is far from perfect.

“It is like any marriage, you can have some ups and downs,” Boullier said. “We went through a lot of stress through the last couple of years, but we have a positive and constructive relationship and I don’t expect this to change in the future.”

The opening test will run through Thursday.

The track near Barcelona will host a second round of testing from March 7-10 before the season starts at the Australian GP on March 26.