Red Bull invested an extra £25 million into its Formula One team last year to help fund its assault on the 2010 world championship, according to reports.
In the year to 31 December 2009, Red Bull’s spending increased by 29.5 per cent to £107 million, in order to fund early development of its successful 2010 challenger. The team’s costs increased by 8.8 per cent to £157 million, with its single biggest expense believed to be the £57.2 million spent on research and development. This rose by 18.8 per cent year on year.
Read Autocar's ongoing review of the 2010 F1 season
Red Bull’s chief executive, Dietrich Mateschitz, said: “In F1 we have no long or medium-term business plans”, but he believes that the secret to the team’s success is because of its employees. “We have recruited the best and most professional people for all the key positions,” he said.
Red Bull’s highest earner is Adrian Newey, its chief technical officer, who joined from the rival McLaren team in 2006 on an estimated £8 million salary. The team’s performance has steadily improved since Newey's appointment and Mateschitz said he was keen to hold onto all personnel to help maintain the Austrian team's performance going forward. “The goal is to reach the top as quickly as possible and stay there for as long as possible," he said.
