- F1 transcends racing to become a global powerhouse of finance and entertainment.
- Tax strategist Oriana Morrison explores shifting economic landscape of motorsport.
- Rapid American expansion and technological leaps redefine financial strategies.
Formula One is more than just burning rubber and quick pit stops. The sport sits at a unique intersection of engineering, investment, and, perhaps unfortunately, geopolitics — as the recent suspension of the Bahrain and Abu Dhabi races reminds us.
You can throw entertainment into the equation as well. F1 was a fringe contender for the Oscars’ Best Picture this year (surely my favorite film) and, with the possible exception of boxing, the only sport featured in a Marvel Cinematic Universe film.
As new capital pours into the sport from new markets, the financial landscape behind the scenes is shifting at a remarkable pace. More money, more races, more taxes in places.
Oriana Morrison is the Founder and CEO of ECNMX, a UK–US tax strategist who works with F1 drivers, teams, and commercial partners in elite sport and entertainment.
Changing financial landscape
For sports with a global campaign like F1, the tax implications for crew and drivers can be complicated. She sifts through the mess to help high-performance professionals manage careers and commercial opportunities that now span multiple jurisdictions.
ReadMotorSport caught up with Morrison to learn how all of this squares with Formula One and how drivers and teams are adapting to a rapidly changing financial landscape.
RM: As someone advising elite drivers and teams across the UK and US, how would you describe the current financial climate in Formula 1?
“Rapidly expanding. Not only has America entered the game in a major way, but there are also discussions of additional races in the US, the Middle East, South Africa, and Portugal. It would be great to see more F1 in Africa.
“Fans are also now able to engage in many different ways—from bingeing on Netflix, to listening to comedy podcasts, to following their favourite stars on Instagram.”
RM: For drivers in particular, what are the biggest financial challenges they’re facing today?
“Not every jurisdiction—especially in the most mature markets—offers tax exemptions for its drivers. Team changes are also happening more quickly, and as the sport becomes more accessible, more talent is entering the pool.
“This could shorten careers, so it is imperative to optimise tax and financial strategies early and begin building wealth as soon as possible.”
RM: From your vantage point, what is the single biggest structural shift happening in Formula 1 right now?
“The new 2026 movable aerodynamic surfaces will introduce technology not seen before in the sport, and the hybrid powertrain remains uniquely complex.
“The expansion into the US market—meaning American audiences are now emotionally invested, especially with the presence of an American team.
“Alongside that is the rapid pace of technological advancement. F1 cars are increasingly becoming unlike anything else to drive, which may lead teams to look toward younger talent who do not have ingrained driving habits from previous eras.”
RM: We’re seeing rising team valuations and increased investment from America and elsewhere. What does that influx of capital actually change behind the scenes?
“American investors, as history shows, tend to be demanding. It’s different to bring this to America than to a frontier market. The United States is the most advanced sports market in the world.
“I saw figures from 2023 showing that the NFL is worth a combined $142.87 billion. F1 is part of Liberty Media, which has a value of 21 billion.
“The F1 shouldn’t be daunted. Those numbers may be sobering, but they also show an opportunity. American investors will look at profitability, capital growth, brand value, and visibility.”
RM: With cost caps reshaping team operations, how has financial strategy inside F1 evolved over the past few seasons?
“This has introduced a fascinating shift.
“Previously, competitive advantage often came from simply outspending rivals on engineering and development. The cost cap on core racing operations significantly changes that dynamic.
“Teams now have to be far more analytical about performance spending and more selective in how they allocate resources. Creativity becomes essential—finding efficiencies that allow the minimum input to produce the maximum competitive output.
“Spending cycles and upgrade timing will become increasingly strategic. Commercial strategy will also grow in importance as teams seek revenue outside the capped areas.
“Expect more focus on brand partnerships, hospitality offerings, technology licensing, and sponsorship programs as teams build sustainable revenue streams.”
RM: As the cars become increasingly data-driven and technologically complex, do you see financial implications in how teams assess and develop talent?
“Yes.
“As cars become more technologically sophisticated, the skill sets required from drivers will evolve as well. Teams may increasingly favour younger talent who have fewer established driving habits and are more adaptable to new technologies.
“At the moment, F1 Academy cars remain relatively basic—closer to F4 machinery. However, drivers who are already performing well at 15, 16, or 17 years old and have strong sponsorship backing and early links to teams are most likely to progress.”
RM: Looking at the economic forces shaping F1—private equity, expansion, and geopolitical factors—which will have the greatest influence over the next five years?
“I don’t think it will be geopolitics.
“It remains to be seen if the current Gulf War will have a long-term impact, but I think that is unlikely despite the cancelled races. For example, look at how President Trump has shown that despite the Iran war, the Iranian team will be welcome in the U.S. for the FIFA World Cup.
“Instead, expansion into the US market and the rapid pace of technological development are the two key dynamics likely to shape the next phase of Formula One’s growth.
“At the same time, the sport is becoming more globally accessible. Participation and fan engagement are expanding into new regions, and women are increasingly entering motorsport. It’s an exciting time to be a fan – or behind the wheel.”
