NASCAR Driver Denny Hamlin Expresses His Happiness at Formula One’s Increasing Profits From Last Year

Recently, there was great news for Formula One, from a financial standpoint. Following a near $400 million loss in 2020, the motorsport giant has registered a $92 million profit. The best part is that the sport earned a revenue of nearly $2 billion. In light of this, NASCAR driver Denny Hamlin was happy about F1’s success.

The Joe Gibbs Racing driver said, “Seems favorable for all parties. 2B in revenues for the league. 1B of that going to the teams. What’s not to love about a rising tide“. As per his observation, half of that $2 billion revenue goes to the teams, and that could potentially help them improve the competition.

Can this happen for NASCAR as well?

Theoretically speaking, this is definitely possible for NASCAR, and they hope that the Next Gen car is one of the answers. Admittedly, the Netflix series Drive to Survive has helped spearhead F1 a little. Meanwhile, NASCAR has nothing of that sort, just yet, and now MotoGP is joining the bandwagon this year. Recently though, there is a new Netflix series called Race: Bubba Wallace, which could garner some interest.

However, that is only focusing on one driver. There isn’t a dedicated series to focus on the sport as a whole. One thing is for sure, NASCAR has to move with the times and re-evaluate its strategy. Back in 2021, former driver Jimmie Johnson revealed that the revenue dropped by nearly 50%. This was in comparison to the 2015 season, and it was largely due to many rule changes.

So the big question is, will this latest rule change and the Next Gen car be the thing to revive the sport? Of course, the onset of the COVID-19 crisis did not help matters, but now the 2022 season will be crucial to see whether NASCAR has made any progress on the revenue front since then.

DIVE DEEPER