BMW's engine budget

BMW's 2002 accounts make interesting reading. The company has recently restated its accounts as it switches to a new accounting system and this reveals a few secrets which were not apparent when the original accounts were published. The books reveal that in 2002 the company spent $155m on its motorsport programme (based on the exchange rate at the time), of this $140m went on research and development and $15m went in other costs for motor sports. The majority of this money will have gone on F1 as the company cut back on most of its other activities in order to fund the F1 engines. The company made a profit in 2002 of $3.1bn.

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