Cover Image for F1 should reinvest its $92 Million profits for greener solutions suggests Sebastian Vettel

F1 should reinvest its $92 Million profits for greener solutions suggests Sebastian Vettel

Tanish Chachra
|Tue Aug 16 2022

Sebastian Vettel thinks the profits generated by F1 should be reinvested in having greener and sustainable solutions to reduce footprints.

The four-time world champion Sebastian Vettel is a staunch advocate of environmental conversation. His principles have also now propelled him to end his career at the end of the season in motorsport and aim for a better world.

Vettel has always criticized F1 for not doing enough to sustain the environment and compensate for how many carbon footprints it leaves with every Grand Prix.

Therefore, the Aston Martin superstar has now suggested that F1 reinvest its profits into its current promoters to help them come up with greener solutions to help reduce the footprint of its spectators.

“Obviously, we attract big crowds in Formula 1. I think that the sport got more popular in recent years with new fan bases, especially in North America, making the sport bigger and growing,” said Vettel at a summit hosted by World eX.

“But with that, there are more people that need to get to the track, that need to be managed when they are at the track. So yes, a lot can be done, similar to other big events.”

“In the end we need to take some of the sort of turnover or money that Formula 1 in particular makes and try and reinvest to the promoters and give them the chance to decide for a better, greener, cleaner solution when it comes to handling crowds and dealing with the event.”

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F1 is highly profitable now

After Liberty Media overtook F1 from Bernie Ecclestone, it faced a couple of years of losses. But in 2021, for the first time, it had seen a respectful profit of $92 Million out of a gigantic revenue of $2.14 billion.

This year also, F1 has seen a steady rise in its revenue as the second quarter brought in $744 million. This amount has allowed F1 to amass over $1.04 billion in the first six months of this year.

Sebastian Vettel leaves away with a legacy

over the past two years. Despite his car’s limitations, Vettel has given some brilliant performances for Aston Martin. That’s why the Silverstone-based team was willing to extend his stay with them.

But in the video by Vettel announcing his retirement, he stressed many more important reasons to leave the sport. Now, Fernando Alonso will replace him at Aston Martin, which caused a huge fiasco at Alpine, also involving Oscar Piastri.

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