Interesting article in Racer Magazine on the revenue from the 500 and the payout to the drivers, inc comparison to historical payouts here.
http://www.racer.com/more/viewpoints/item/130258-miller-a-race-for-heroes-deserves-a-bigger-prize?showall=1&limitstart=
Net, Rossi isn't really taking home $2.5mil
It would be pretty interesting to see Indycar open their books just to see the balance sheet for an event like that. Things like large concerts, flyovers, etc can't be cheap. What kind of insurance policy do you have for the world's largest sporting event, and how much does that cost? I'm sure they're making money, but I wouldn't be surprised if it's not a ton.
I've been to a few homes of Hulman-George family members, and while they're certainly far nicer than the average home, they live more modestly than I would've thought.
It would be more interesting if they knew the net income of the race, rather than gross. I get the feeling that's a pretty expensive event to put on.
How to get a million dollars with a race team? Start with two million.
Here's some interesting info on the cost of running an Indy car team back in the 90's thanks to the Truth in Tobacco documents site.
MAlboro investment in Penske 89-94 plus projection though 97
Player's contract with Forsythe for 1993-1994 - Skip to page 36
I'm not sure I understand the article- they're arguing that the drivers should stand to win more money, but these guys are already paid well for a job that any of us would do for free, not to mention how much their "market value" goes up when they win.
¯\_(ツ)_/¯ wrote: I'm not sure I understand the article- they're arguing that the drivers should stand to win more money, but these guys are already paid well for a job that any of us would do for free, not to mention how much their "market value" goes up when they win.
There were 41 drivers who competed int he series last year and 33 every year at Indy. I bet non outside the top 10 make real money and none outside the top 15, maybe 20 actually get paid by the teams. Most bring money from sponsorship and have to try and make a living from that. Yes, rich mans problems but this is meant to be a top line sport. You don't get Football players paying to be in the NFL
Adrian_Thompson wrote: There were 41 drivers who competed int he series last year and 33 every year at Indy. I bet non outside the top 10 make real money and none outside the top 15, maybe 20 actually get paid by the teams. Most bring money from sponsorship and have to try and make a living from that. Yes, rich mans problems but this is meant to be a top line sport. You don't get Football players paying to be in the NFL
The reason you don't see players paying to be in the NFL has everything to do with the popularity of the NFL, and it's extremely lucrative television and sponsorship deals. The NFL generated over 7 billion in revenue in 2014 when 202 million unique viewers (80% of US households) watched their product.
That's a fantasy for Indycar. They average under 400,000 TV viewers per race, and that's the second best they've ever done. That's not going to draw in big money. Racetracks are massive facilities that cost a fortune to maintain/staff. There's not a ton of extra money to go around. Driver/player salaries are strongly related to the popularity of the sport and it's advertising revenue. Indycar has seen recent improvement, but it's still not popular with the general public
I wouldn't be surprised to learn that Lewis Hamilton makes several times more then the entire field in Indycar does all season.
Rusnak_322 wrote: I wouldn't be surprised to learn that Lewis Hamilton makes several times more then all pro drivers in NASCAR, INDY car, Grand Am TUSCAR etc each year
Fixed
In reply to Adrian_Thompson:
Yeah, but so what? Hamilton is one of the best of the best- and makes more because of it. The drivers in the other series you mention aren't competing at the same level, so they don't get that level of pay- just like I'm not competing at their level, so I have to pay to race. If the complaint is that the insurance companies, corporations, etc. are the ones making the money, then I'm right there with you, but if we're just comparing driver salaries, not so much.
STM317 wrote: The reason you don't see players paying to be in the NFL has everything to do with the popularity of the NFL, and it's extremely lucrative television and sponsorship deals. The NFL generated over 7 billion in revenue in 2014 when 202 million unique viewers (80% of US households) watched their product.
OK, bad choice, I don't follow girls sports
What about Major league Football or something. I'm not saying they should be earning $10's of millions, but I'd have thought it would be possible to make the pot a little more enticing for at least the 500.
All I kept reading was that because the drivers risk there lives they should be paid more. That part irks me. If you don't want to take the risk don't be a race car driver. But no because they are risking there lives they should be paid more. It is as if they don't have a choice. I can see it soon we will need OSHA approved race cars and race tracks and OSHA approved passing locations. WTF
I drive to work every day. Statistically I bet I am at a higher risk for injury or death so I should be paid more.
I hate articles like that.
the only racers that make a lot of money in North America race in the NASCAR Cup series, and there are only a few of them that would probably be considered obscenely wealthy by petty people that worry about that kind of thing. some of them are rich because they are great racers, some are rich because they are a valuable marketing commodity.. but they make good money competing at the top level of what they do.
Adrian_Thompson wrote:Rusnak_322 wrote: I wouldn't be surprised to learn that Lewis Hamilton makes several times more then all pro drivers in NASCAR, INDY car, Grand Am TUSCAR etc each yearFixed
You need to remove NASCAR from that list. Lewis may make more than the NASCAR stars do, but not by that much:
http://www.sportstardom.com/top-20-highest-paid-athletes-in-the-world/2/
http://www.tsmplug.com/richlist/highest-paid-nascar-drivers/
Adrian_Thompson wrote: OK, bad choice, I don't follow girls sports
I'm a little surprised it wasn't larger as well, considering it was the 100th running. But I don't feel bad for young men and women that get paid well (compared to the average person) to drive sweet race cars for a living, and live the life of a pro race driver. Sure there are other drivers that make more money, that's why many successful Indycar drivers attempt to go to Nascar or F1 where the checks get a lot larger. There are also countless other drivers that get paid less. I'm sure Indycar is trying very hard to gain relevence and increase revenues any way possible. If they're successful at it, they might start to see prize money increase.
One thing is Indy is open all year round with a museum and gift shop - also I've stopped by when somebody was testing which equates to a track rental although not all year round due to weather.
I imagine the family does okay with the entire package but I too agree the 500 race may net a small amount after the huge expenses.
Those flyovers aren't free? You know, feeling all patriotic and all.
In reply to Rusnak_322:
I'd bet that Rosco Hamilton does as well as he likely has more followers on social media
Datsun310Guy wrote: I imagine the family does okay with the entire package but I too agree the 500 race may net a small amount after the huge expenses.
The issue there is Tony effing George squandered hundreds of millions of $$'s killing open wheel racing then trying to prop up the disastrous results with the family money. That's why his sisters had him kicked off the BoD.
In reply to Adrian_Thompson:
I still like to see arrogant, rich guys spending money.
Datsun310Guy wrote: In reply to Adrian_Thompson: I still like to see arrogant, rich guys spending money.
I'm actually not sure what you mean by that, the drivers? the team owners? IRL? the raceway? People springing for lux boxes? the sponsors?
Adrian_Thompson wrote:Datsun310Guy wrote: In reply to Adrian_Thompson: I still like to see arrogant, rich guys spending money.I'm actually not sure what you mean by that, the drivers? the team owners? IRL? the raceway? People springing for lux boxes? the sponsors?
i'll speak for him and just answer "yes" to your inquiry..
Good article on the current state of Indycar and what it needs to do to raise it's profile: http://blackflag.jalopnik.com/indycar-insiders-plan-to-fix-series-decline-do-nothing-1779654843
Tom_Spangler wrote:Adrian_Thompson wrote:You need to remove NASCAR from that list. Lewis may make more than the NASCAR stars do, but not by that much: http://www.sportstardom.com/top-20-highest-paid-athletes-in-the-world/2/ http://www.tsmplug.com/richlist/highest-paid-nascar-drivers/Rusnak_322 wrote: I wouldn't be surprised to learn that Lewis Hamilton makes several times more then all pro drivers in NASCAR, INDY car, Grand Am TUSCAR etc each yearFixed
I remember when Montoya (IIRC?) and Jeff Gordon did that "trading cars" spot year ago when Montoya drove for McLaren. Apparently, Gordon did much better than anyone expected him to do having never been in an F1 car before and someone joking asked Ron Dennis if he'd hire Gordon. His response was something like, "I'd love to, but we couldn't afford him..."
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