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F1's profits reverse by £80m due to new deal with teams

Formula One's profits fell by £81.2m to £169.9m last year driven by a new deal with the 11 teams according to an article in the Daily Telegraph by Christian Sylt.In the year to 31 December 2013 the teams' prize money increased 6.1% to a record £473.8m making it the single biggest cost for F1's Luxembourg-based parent company Delta 2.It calls into question the claim, which has long been advocated by some teams, that F1's controlling shareholder, the private equity firm CVC, gets an unfairly-high share of the spoils. In fact it is the latest in a series of revelations which has cast doubt over the validity of this claim.The first was in analysis in the CityAM newspaper, and...
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