After $3.65 Billion Revenue in 2024, F1 Signs Multi-Year Deal With Tax Consultancy Giant

Cash has been rolling into the sport ever since Liberty Media took over F1’s commercial rights in 2017-18. With an overhaul of the sport’s broadcasting and social media landscape, adding new race venues, and expanding the calendar into newer territories, the Formula One Management (FOM)’s top line has seen exponential growth in recent years.

Just last year, F1 closed in on a revenue of $3.65 billion, which was a 14% growth from the previous year. Besides the money from hosting rights fees, media rights, and sponsorships, FOM has taken multiple steps under Liberty Media’s management on the marketing front as well to boost their revenue figures.

The annual docu-series ‘Drive to Survive’ contributes massively to F1’s marketing efforts and attracts newer audiences every year. Moreover, to cater to the interest from territories with untapped market potential such as the USA and the Middle East, Liberty Media has added multiple races such as Miami, Las Vegas, Jeddah, and Qatar in these regions.

The financial boost from these newer races has been a primary factor behind F1’s increased revenues. However, when organizations start earning at such a large scale, they need capable partners to optimize their business processes. That is the reason why F1 has signed a long-term partnership with PwC (PricewaterhouseCoopers).

The London-based tax consultancy giant, which is part of the Big 4 Consulting firms worldwide, also works in strategic management and consulting. So, besides helping F1 in their auditing and tax payments, PwC will be mainly working to optimize FOM’s business processes across the globe.

Formula 1 has announced professional services firm @PwC as its Official Consulting Partner. The partnership will begin this coming weekend at the @f1miami Grand Prix.

Read more: https://t.co/vIegpN9zyv#F1 #PwC pic.twitter.com/E97odn9g9I

— F1 Media (@F1Media) April 29, 2025

Knowing that F1’s commercial side has its arms stretched into complex deals with partners, race promoters, and teams, PwC’s role in streamlining their overall processes to deal with these various stakeholders could go a long way for Liberty Media.

“As two brands that stand for solutions in complex environments, this partnership is a perfect fit,” F1’s Chief Commercial Officer, Emily Prazer stated about this multi-year deal with PwC, per Motorsport-Total.

Even one of PwC’s senior partners commented that this is a “great opportunity to contribute to the further development of Formula 1 with strategic and innovative consulting.” This partnership will begin from this weekend’s Miami GP itself.

While F1 would certainly benefit significantly from PwC’s professionalism and expertise on various fronts, even the consulting giant is getting this exclusive chance to work with an organization managing a globally popular sport.