Formula Shenanigans

Armchair accounting enthusiast. Trying to bring nuanced accounting takes to #F1twt - so far without success! Purveyor of niche #CostCap data and infographics.

[Formula Shenanigans @F1_Shenanigans]

So @MercedesAMGF1 have filed their accounts for 2023 already (unusually early). The TL/DR is that despite slipping back competitively, they remain an absolute financial powerhouse. Revenue up 15% to £546m, profit down but still £84m! Here’s a few interesting snippets…1/ #F1

[Formula Shenanigans @F1_Shenanigans]

Kimi Antonelli now has the same number of career wins as George Russell (7).

[Formula Shenanigans @F1_Shenanigans]

@PHortonF1 Assuming he wins today he’ll also be only one career victory behind Russell!

[Formula Shenanigans @F1_Shenanigans]

@afneil If you were a Bond villain, stroking your cat and wondering how to topple an advanced industrial economy, item number one on your ideas list would be to make energy expensive….only we didn’t need a Bond villain because we did it to ourselves (as did Germany).

[Formula Shenanigans @F1_Shenanigans]

@RPMComo Is Jim Radcliffe the best contra indicator in sports investing? Seems to have a habit of buying the top wherever he goes (Team Sky cycling, Mercedes F1, Man Utd). He’ll make money in F1 because of the structural tail winds (cost cap/growing sport) but the rest is just🔥💵🔥

[Formula Shenanigans @F1_Shenanigans]

@Max33Verstappen has taken 3 poles this year but the *aggregate* total margin of them all is still less than 1/10th of a second. Super impressive! #MiamiGP #F1

[Formula Shenanigans @F1_Shenanigans]

@brrrake The cost cap was always likely to benefit the parts of the F1 eco system that are unconstrained, namely drivers, the three most highly paid employees and the shareholders. Toto loves it for good reason!

[Formula Shenanigans @F1_Shenanigans]

Actually looks like Keke Rosberg did it when Williams were 4th in 1982 and Nelson Piquet the following year when Brabham were 3rd.

[Formula Shenanigans @F1_Shenanigans]

@virtualstatman if RedBull finish 3rd in the constructors championship this year, will that be the first time a drivers champion has come from a team outside the top 2 in the constructors?

[Formula Shenanigans @F1_Shenanigans]

@kunalashah @F1 @The_F1fanatic Both of which were wet….

[Formula Shenanigans @F1_Shenanigans]

It will be interesting to see where Norris can get to tomorrow. It always felt that the ‘8 points a race’ theory was slightly ambitious as the underlying assumption is that Norris swept Verstappen for the final 10 races. That always seemed unlikely. #F1

[Formula Shenanigans @F1_Shenanigans]

@wbuxtonofficial @TomClarksonF1 Jolyon was clearly a very good driver (that’s required to get to F1) but he is in my view an absolutely world class broadcaster. He’s pretty much the only reason I tune into the BBC’s Chequered Flag podcast these days.

[Formula Shenanigans @F1_Shenanigans]

@kunalashah They should. SWIFT is effectively a messaging service between banks to credit international payments. I think a court would accept an MT101 or MT103 (which are message codes for outbound fund transfers) as proof of payment. SWIFT doesn’t credit payments on weekends.

[Formula Shenanigans @F1_Shenanigans]

@DanNeidle Would people pay extra tax if they got to decide where it was spent? For example, on your self assessment return there were extra boxes where you could pay additional tax that was directed to specific departments/issues (defence, health, education etc).

[Formula Shenanigans @F1_Shenanigans]

Maybe they can only keep one! #AdrianNewey

[Formula Shenanigans @F1_Shenanigans]

The #Horner debacle is becoming a massive 🍿 situation. RB have (at least) 3 key assets; Horner, Verstappen, Newey. They might be able to pick only two. Hinting Max might leave is the nuclear option for Jos but do Redbull want a team run by the Verstappen’s? Landmines everywhere!

[Formula Shenanigans @F1_Shenanigans]

Summary: All in all, these are massively impressive results. I’d love to own this business so chapeau to management and shareholders for doing a great job.

[Formula Shenanigans @F1_Shenanigans]

So @MercedesAMGF1 have filed their accounts for 2023 already (unusually early). The TL/DR is that despite slipping back competitively, they remain an absolute financial powerhouse. Revenue up 15% to £546m, profit down but still £84m! Here’s a few interesting snippets…1/ #F1

[Formula Shenanigans @F1_Shenanigans]

Crypto Sponsors: Remember that massive crypto exchange where the CEO just went to jail? Well, they’re going to try and avoid that happening again. 8/