F1 costs $2.6bn per year

(GMMf1NET) In an analysis of F1's staggering annual costs, a British magazine has found that teams spend more than a combined $2.6bn each year.

To put the figure into perspective, Fiji records a similar yearly gross domestic product.

Citing insider sources and laborious research, 'F1 Racing' said pitlane's biggest spender in 2005 was Toyota, with a whopping half-billion dollar budget, ahead of Ferrari, spending $437m.

Drivers' and constructors' champions Renault, on the other hand, also proved more efficient than McLaren, delivering the double crown on a $289m shoestring.

''F1's annual spend is at a level that, in a post-tobacco world, can only be sustained by the car manufacturers,'' the specialist magazine contended.