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F1 Costs Skyrocket: Why Only Wealthy Drivers Can Reach Top

BBC Sport •
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The dream of becoming a Formula 1 driver is increasingly out of reach for all but the wealthy, according to current drivers and industry insiders. George Russell revealed that his father spent £1 million over 12 years to fund his career, and he believes he couldn't make it today given the skyrocketing costs of karting and junior categories.

Current F1 stars represent both ends of the financial spectrum. While Lance Stroll benefited from billionaire father Lawrence's funding and team ownership, and Lando Norris from his father's millions made as a pensions trader, drivers like Lewis Hamilton and Fernando Alonso came from modest backgrounds. Hamilton's father famously worked four jobs to fund his early career, while Alonso's parents held working-class positions in northern Spain.

Today's junior racing costs make Hamilton's path nearly impossible. Jos Verstappen estimates karting costs €10,000-15,000 per race, with full seasons reaching £130,000-£260,000 for young drivers. Moving up through Formula 4, Formula 3, and Formula 2 costs can exceed £2 million before reaching F1. While driver development programs like Mercedes' help some prospects, most still require significant family funding or wealthy connections to progress through the ranks.