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So You Want To Go GT3 Racing? Part 5

After taking a look from every angle, it's time to get a budget together

Missed any of the other parts to this series? Catch up with Part 1, Part 2, Part 3 and Part 4

On a budget…

So we’ve looked at the cost of cars and equipment, travel, the manufacturers’ perspective and shared thoughts and feelings on the sport beyond Covid, now it’s time to put all we’ve learned together and give an example budget.

The number of things to take into consideration when putting a budget, and for that reason it’s impossible to cover every potential angle, so let’s take a specific example of a budget you’d present to a customer.

Here’s what you’d be spending if you bought (to illustrate this particular example) a Porsche GT3 car, got staff onboard, all the equipment and entered the Spa 24 Hours in the pro-am ranks for arguably the most significant and important GT3 race in the world. As with the other four parts to this, the figures are merely an example, you could spend a whole lot more on this, or trim the budget in places. A pinch of salt must be taken!

Remember too that the Porsche is neither the cheapest, nor the most expensive GT3 option available.

Car: €510,000
(Porsche 911 GT3 R in race-ready spec)

Car livery: €3,500

Car tearoffs: €800

Car consumables: €3,000
(Nitrogen, Oils, Compression Sprays etc)

Spares package: €50,000
(includes basics – front & rear bodywork)

Tyres: €58,740
(Covers 30 sets)

Car set up equipment: €20,000

Wheel nut sockets: €32,500
(You need five)

Computer station: €20,000

Fuel Bowser: €8,000

Radio equipment and fees: €15,000
(includes headsets, earpieces, looms, repeater stations, antenna towers)

Tyre tent: €7,000

Laptops: €4,000
(Two laptops)

Garage tool stations: €7100
(You’ll need for of every tool)

Wheel Guns: €32,500
(Includes four (for garage and pitlane) plus a spare)

Fuel Dump Churn: €7,000
(Includes two)

Electronic Pit Board: €8,000

Crew firesuits, helmets and underwear: €20,000
(For 11 crew members)

Driver suits: €6,000
(A suit each for three drivers)

Team merchandise: €4,000
(Team branded clothing)

Food: €7,200
(For entire staff, breakfast, lunch, dinner + snacks at €90 per person per day)

Fuel for the race car: €16,401
(Measured at €497 per hour of running x 33)

Rental cars: €1,747.30
(Includes cars and a passenger van for crew)

Race truck: €250,000

Staff wages: €34,000
(For a team manager, crew chief, team coordinator, 2 x engineers, lead mechanic, 2 x mechanics, 2 x tyre technicians)

Travel: €2,400
(Includes fuel, tolls, parking charges, bank fees, any visas)

Hotels: €8,000
(eight rooms for the event)

Entry fee: €19,500

Circuit internet: €500

Telemetry rental: €500

Data logger: €1,000

Insurance: €28,000

Doc/Physio: €2,500
(Five days, at €500 per day)

Driver wages: €60,000
(for two pro drivers)

Total: €1,285,288

As an aside, if you wanted to buy your way in and race with an existing team, using all their equipment, it’ll cost €350,000-€400,000

 

Message from the Editor – We’ve presented these pieces for several reasons: To educate and inform, to clarify with facts where urban myths have sometimes prevailed, and to remind everybody of the scope and scale of this business, the contribution it makes to the economy, and the challenges it now faces.

Every single figure collated and discussed by Stephen in what I, and very many of you, have seen as an exceptional piece of work, has been drawn from those directly involved in putting together programmes on national, continental and global levels. No editorialising or pontificating – just facts.

It’s very important to understand why we selected to run these articles on GT3 racing only – It was NOT to send a salvo at the class, it was simply because GT3 is everywhere, there are therefore opportunities for direct, and directly relevant, comparisons in more or less every marketplace. 

The issues revealed here are just as relevant in other forms of racing and in every other class in endurance racing.

The final message is to the rulemakers and to race, series and championship organisers.

The sport stands with the biggest series of challenges in generations facing it.  The automotive industry was in the process of fundamental change even before COVID-19 and the challenges that the virus has thrown in everyone’s path have made the situation very significantly more challenging.

We are not in a position where everybody can ‘plug and play’ to restart where we left off – We have already lost some friends and colleagues from the sport and there is a real risk that many others may follow in what almost all in the business expect to be a very difficult 2021.

Now is the time for significant progress in key areas: cost control, customer focus and, two-way communication with those whose endeavours and finance make this all happen.  Real progress needs to be made in those areas immediately.

It’s important to build the stage and dress the set – now let’s pull together to help the players to put on the show.