McLaren Had Hinted At Daniel Ricciardo’s Exit As the Reason Behind its $12M Loss: Reports

Daniel Ricciardo’s two-year stint at McLaren was arguably the most difficult time had to endure in his 13-year-long F1 career. The Aussie left in 2023 despite having another year left in his contract, and according to McLaren, parting ways had cost them heavily.

According to Speedcafe, McLaren reported an operating loss of $12 million in 2022. Ricciardo, who left before his deal ran out, had to be paid north of $13 million. This directly contributed to McLaren’s lack of profits for the year in which they struggled both on and off the track.

McLaren finished P5 in 2022, and its turnover was over $430 million — which was not the amount that would help them get a profit. In 2023, Ricciardo was replaced by Oscar Piastri and the team began performing well on all fronts.

McLaren became a top team and began competing for wins towards the end of the season. It also reported a company turnover of almost $600 million. This helped them finish the year by securing a $17 million profit.

The way McLaren is performing at the moment, they could be in line for an even better figure at the end of 2024.

McLaren in line for huge cash boost

The winner of the Constructors’ Championship in F1 gets a reported sum of $140 million. It is a figure which would boost McLaren’s total profit by a significant amount. As things stand, the Woking-based squad is in the lead, 41 points ahead of second-placed Red Bull.

With six races to go, the ball is in McLaren’s court. The Woking-based team is the favorite to win its first Constructors’ title since 1998. That is if it manages to maintain the high level of performance that has brought them so close.

For the first time in a DECADE… @McLarenF1 are your Constructors Championship leaders! #F1 #AzerbaijanGP pic.twitter.com/s2aSouHpNA

— Formula 1 (@F1) September 15, 2024

Plus, in terms of commercial value, McLaren’s stocks keep rising. Its appeal among the fanbases has also increased as it houses two of F1’s most popular drivers — Lando Norris and Oscar Piastri.