Grand Prix Zandvoort makes millions in profit, despite corona year

This is evident from the recently published annual accounts of the company behind the Grand Prix.

9 million euros profit

Until now, Dutch Grand Prix (DGP) did not want to say anything about turnover and profit, but the most recent annual figures show that a lot of money is now being earned from the event.

Over the years 2021 and 2022 together, a turnover of 137 million euros was recorded. Ultimately, 9 million euros of profit remained.

Lips together

A spokesperson for DGP does not want to say anything about how turnover and profit are divided over the two years. In 2021, director Robert van Overdijk indicated that the event could only be financially viable if all seats could be sold. “Someone will have to step in,” Van Overdijk said at the time to de Volkskrant about the scenario that restrictions would be imposed on the number of spectators due to the corona measures.

The same newspaper later reported on the basis of requested government documents that DGP no less than 30 million euros had applied for aid and was furious when the state did not agree.

The first Grand Prix was actually supposed to be held in 2020, but that was canceled due to corona. There were also restrictions in 2021, which meant that far fewer visitors were allowed to attend the race party.

In 2021, 60,000 visitors per day were welcome at the circuit, in 2022 the circuit was allowed to operate at its full capacity of more than 105,000 visitors per day.

No additional support required

In the end, additional government support was not provided to cover the supposed million-dollar deficit, and it now appears that this was not necessary. DGP announced at the time that, in the absence of support, the three companies behind the organization would bear the costs themselves. DGP did make ample use of the government’s TVL scheme.

Van Overdijk said to the AD at the time that the 2021 loss would eventually be made up. “We are not in it for three or five years, but rather for ten or fifteen years. That money will come back somewhere.” That turned out to be the case a year later.

If it is true that the organization of the event in 2021 was compromised, this logically also means that the profit in 2022 must have been even greater than the 9 million euros that is now in the books over the two years.

The municipality is left with the bill

But where the organization makes a significant profit, the municipality of Zandvoort actually loses out. According to the Municipal Executive, the municipality will have a net income in 2022 incurred approximately 800,000 euros in additional costs to make the event possible.

In order to benefit from the event in the future, the municipality will levy an extra tax of 3 euros per ticket from next year. That should generate roughly an extra million euros for the municipal coffers.

The third GP in Zandvoort has now also been held, but has not yet been included in the published results.