Bernie Ecclestone is laughing all the way to the bank as Formula One is on track to gain as much as $180 million from the plummeting value of the British pound, which hit a 30-year low after Britain voted to leave Europe.

As the so-called Brexit decision became clear, the pound reversed to $1.34 against the dollar, wiping around 10 percent off the value of the currency. It sent markets into free fall, with Japan halting trading for 10 minutes after it fell 1,000 points. However, companies based in Britain but that deal in dollars stand to cash in from this, and F1 is in pole position for such a boon.

F1’s headquarters is in London, but company documents reveal that “most payments we receive from our counterparties under our commercial contracts are denominated in U.S. dollars.” In contrast, many of F1’s costs, such as paying its 352 staff, are in pounds, so as the value of sterling fell it got more for the dollars that it receives.

F1’s latest accounts show that in the year ending Dec. 31, 2014, its revenue came to $1.8 billion, with $1.2 billion of this coming from fees from broadcasters and race hosts. Advertising and sponsorship brings in $254.4 million, with $89.2 million coming from corporate hospitality, and the remaining $209.1 million from miscellaneous sources.

Taking full advantage of the 10 percent fall in sterling could boost F1’s coffers by as much as $180 million, and although the currency has risen from this low, it is expected to remain volatile as the the process of unwinding Britain from the European Union is likely to take several years.

It will be music to the ears of F1 boss Ecclestone, who said in April that he did not see what the EU “does for England." When asked whether Britain derived any economic benefit from being in the EU, Ecclestone replied “none at all.”

It reflects comments from 2014, when he said, “Slowly but surely, what I predicted about Europe is happening. What I said 10 years ago is that it would soon become a third-world economy. Europe was built on Germany and France. That’s how it all started. France is gone, and Germany doesn’t look good.”

Brexit could also turbocharge the teams’ finances, as eight of them are based in Britain but are largely paid in dollars. Their biggest single source of income is prize money, which came to a total of $863.1 million in 2014.

The F1 company documents state that “we manage our foreign currency risk by conducting the majority of our business in United States dollars, the same currency as the denomination of the majority of our debt balances and all team payments, using forward contracts and structured instruments to manage the risks associated with our limited non-United States dollar denominated revenues.”

In contrast, the Silverstone track in Northamptonshire, England, could face a rocky road because of the Brexit. The bulk of its income is in sterling from ticket sales, but its biggest single cost is a $25.5 million fee paid in dollars to F1 for the right to host the British Grand Prix, which takes place next month.

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