Thierry Godard:

In 2012 each of the 11 teams spent on average between $5.4 million and $13.5 million to compete in the Monaco Grand Prix. Which is just one part of the roughly $325 million annual budget spent by teams like Red Bull Racing.  Not included in the per-race budget are the actual cost of the cars, or the engines to power them. Each team typically brings three cars, one spare chassis and several spare engines per F1 rules.

For a sport that is so obscure in the US, there is insane money in F1.