Energy drink manufacturer Red Bull reduced investment in its championship-winning Formula One team by $28.5 million to $108.9 million last year, according to its latest financial report.

Red Bull was able to reduce its input due to an increase in prize money and a one-off bonus of $25 million, which the team received in 2012 for signing a new commercial agreement with Formula One supremo Bernie Ecclestone.

Last year, the team’s biggest single cost was research and development at $123 million, which was up 8.3 per cent on 2011. Total staff pay came to $84.9 million, with the highest-paid director – believed to be team principal Christian Horner – receiving $3.3 million last year, up from $2.1 million in 2011, according to Autoweek.

Despite this, Red Bull Racing was left with a net profit of $1.1 million in 2012, compared to $1 million the previous year

Source: Sportbusiness