The Mick George Group’s Post

As thrilling as it is to watch drivers like Max Verstappen or Lewis Hamilton battle on the track, the real-world implications of racing extend far beyond the finish line. For the drivers and teams, taxes are an invisible yet critical part of the sport. Let’s dive into this often-overlooked dimension of F1, where every dollar earned is as carefully engineered and managed as every lap driven. https://lnkd.in/gwsGzg4F

As thrilling as it is to watch drivers like Max Verstappen or Lewis Hamilton battle on the track, the real-world implications of racing extend far beyond the finish line. For the drivers and teams, taxes are an invisible yet critical part of the sport. Let’s dive into this often-overlooked dimension of F1, where every dollar earned is as carefully engineered and managed as every lap driven. https://lnkd.in/g9BwNiaE

Designing the Winning Formula... Reported £30m 5-year contract for Newey, see: https://lnkd.in/eaB3FSaN arguably reflecting efficient economic pricing + negotiation if optimal car design is one of the few critical factors behind valuable F1 success...

As thrilling as it is to watch drivers like Max Verstappen or Lewis Hamilton battle on the track, the real-world implications of racing extend far beyond the finish line. For the drivers and teams, taxes are an invisible yet critical part of the sport. Let’s dive into this often-overlooked dimension of F1, where every dollar earned is as carefully engineered and managed as every lap driven. https://lnkd.in/gZnUMegv

As thrilling as it is to watch drivers like Max Verstappen or Lewis Hamilton battle on the track, the real-world implications of racing extend far beyond the finish line. For the drivers and teams, taxes are an invisible yet critical part of the sport. Let’s dive into this often-overlooked dimension of F1, where every dollar earned is as carefully engineered and managed as every lap driven. https://lnkd.in/gKARdSdy

The 'FIA Formula 1 Regulations' and associated 'Costs Cap' were implemented to attempt to make Formula 1 fairer and more competitive. Is it possible to even the playing field of this luxury sport with such Regulations, or do the potential fines and sanctions for breach, provide the likes of Red Bull Racing and Mercedes little to be concerned about? 🏎 Grateful to have assisted on the below article with Kavan Bakhda and Tom Fennelly for LawInSport.

First season of racing complete. It had everything from extreme highs and extreme lows. A class win, multiple trophies, lots of learning, great competition, mechanical challenges and of course a scary crash. 🙄 The question people often ask is, 'Why go racing?' There are many reasons not do. Cost, safety, time, ego, environmental impact, business relevance... There are however, many positive reasons that far outweigh the negatives: Product development: Both car and driver were fitted with multiple prototype Bluetooth/ANT+ sensors, detecting everything from heart rate, R-R intervals, temperature and sheer force Nm on suspension components. RF engineers will understand the challenges of broadcasting 2.4GHz around large solid objects. Try doing this on a car travelling 120+ MPH in torrential rain with extreme vibration. Teamwork: I could never have raced on my own. You need a team. Led by former racer, Callum MacGregor and chartered engineer Henry Stephens MEng CEng MIMechE, the team kept the car in top shape, making intricate setup adjustments from my feedback and making last minute strategy calls that resulted in a class win. The cliché 'you win and lose as a team' is so true. Networking: Possibly the most overused business phrase. We didn't go racing to make a name for ourselves or join a network of motorsport professionals. Yet, in one season we formed close relationships and learnt from people in different industries and have started a R&D project with an established motorsports facility (more on than to come). All because we shared a common interest. Competition: There is nothing more competitive than business, even racing. We face increased competition from larger/lower cost OEMs every year. Sometimes its good to remind yourself how important competition is. You don't just want to beat your competition, but also learn from them, respect what they do well, drive motivation, understand how they overcome similar challenges and ultimately remember - healthy competition is good.

In my latest article, I took a deep dive into Formula 1‘s current expansion focus and why a fourth race in the United States is not on the cards at the moment. Also what does it mean for Europe? 🤔 #F1 #Formula1 Read the full article here ⬇️ https://lnkd.in/eh-Qt_gt

Monaco is home to nearly half of all Formula 1 drivers: • Lewis Hamilton • Max Verstappen • Charles Leclerc • Lando Norris • Valtteri Bottas • Sergio Perez • Nico Hulkenberg • Alex Albon This is primarily because of three reasons. Taxes: Monaco has no income tax, no wealth tax, no local tax, no property tax, and no capital gains tax. Privacy: There are 12,000 millionaires living in Monaco — 1/3 of the entire population — so F1 drivers don't have to deal with crazy fans. And with the government requiring written permission for all professional photography, there are also fewer paparazzi. Location: The Nice airport is only 15 miles from Monaco, which is especially important because F1 drivers will travel over 75,000 miles this year alone. And, of course, it doesn’t hurt that Monaco’s weather is incredible, and the views are equally spectacular.

The worlds greatest F1 driver does this one trick to stay winning 👇🏼 When you’re chasing a win, it’s easier to keep pace. When you’re out in the lead, it’s hard to keep pushing. Lewis Hamilton imagines himself out in front and chases a better version of himself. It keeps him straight. Focused. It’s easier hunting down someone or something because you have something to aim towards. It’s harder keeping pace when you’re out in front because you don’t have as much driving you. ***** What helps you to stay focused?