With Dean Sammut
Motorsport is one of the fastest-growing industries worldwide, but the financial implications of breaking in at a grassroots level remain a significant deterrent. As is so often the case, monetary concerns can create a knock-on effect for mental wellbeing, in turn limiting individual performance.
As part of Mental Health Month, Girls Torque is shining a light on the relationship between motoring, finance, and mental health. We sat down with seasoned professional Dean Sammut to explore key financial stressors, their impact on mental health, and strategies for positive management.
Introducing Dean: Founder of Evolve Driving
With over 25 years of experience in the motorsport industry, Dean is a well-rounded professional with a background in financial advisory, coaching, and instructing. His expertise in finance and first-hand competitive experience is invaluable in developing strategies for managing financial pressures in racing — from balancing risk and reward, to budgeting, and learning how to leave sponsorship stress off-track. We extend our gratitude to Dean for sharing his insights.
Decision-Making: How Do Financial Stressors Impact Risk Tolerance?
Many competitors take personal responsibility for the financial commitments of motorsport. The external pressures of securing and maintaining funding can significantly affect risk tolerance, especially in high-stakes situations such as sourcing further investment or competing with limited resources.
Risk-taking behaviours on track are often shaped by off-track circumstances, particularly when management strategies are thin or absent.
Taking the Risk: External Investment = Increased Pressure
Like many aspects of life, motorsport demands a constant calculation of risk versus reward. Perceived risk involves not only the likelihood of an outcome, but also its potential severity.
Imagine this: a driver competing for a championship must decide whether to attempt a risky manoeuvre that could gain valuable positions — but also carries the danger of a DNF. Most would argue for caution, but in a moment of great pressure, risk often wins.
The same applies in financial contexts. A driver hyper-aware of their need to secure or maintain funding may find their on-track judgment clouded. Ideally, financial concerns and performance should remain separate, but in reality this separation is not always achievable.
Keeping Finance Off the Track: Practical Ways to Maximise Performance
1. Consider Funding Before Jumping in the Driver’s Seat
Dean emphasises the importance of addressing funding before even stepping into a car. He recalls being offered a last-minute Ferrari GT3 drive: while there were no upfront costs, he would still have been liable for any damage.
“I was familiar with the track, the car and the competitors, but I stepped back from the emotion of racing a Ferrari GT3 and thought about even the simplest error that might have been beyond my control.”
His story highlights the importance of approaching opportunities level-headed, analysing them logically, and considering whether the potential reward truly outweighs the risks.
2. Invest in Networking
It is easy to focus solely on competition, but strong off-track connections with investors and sponsors are essential. Building a digital presence alongside in-person interactions strengthens personal brand and creates sponsor appeal. Networking through conversations, appearances, and even hot laps provides value beyond race results.
3. Budgeting and Financial Timelines
Dean stresses the value of tailored financial planning:
Create a plan before the season begins, allowing time to identify and resolve issues.
Consider when financial strain typically arises during the season.
Factor in the full season timeline, including its start and finish.
A well-prepared budget helps reduce unnecessary stress and keeps focus on performance.
4. Sponsor Responsibility
Fulfilment of sponsorship commitments is another key responsibility. Seek ways to deliver value that align with your goals without overextending yourself financially. Content creation and social media engagement can be cost-effective tools. Clear communication of expectations before agreements are made ensures sustainability.
5. Long-Term Competing and Worst-Case Scenarios
Accidents are an unfortunate reality of motorsport. Accounting for the possibility of damage and associated costs in advance allows drivers to build a long-term, sustainable budget. While it increases planned costs, it also provides peace of mind — a vital component of mental health.
Closing Thoughts
The financial commitments of motorsport can weigh heavily on mental health. Yet with clear budgeting, thoughtful planning, and strong off-track connections, competitors can prepare themselves to perform at their best — whatever the season brings.
Anna is a business student with a growing focus on marketing and management in motorsport. A creative thinker with fresh perspectives, she is eager to contribute new ideas that challenge the status quo. Alongside her studies, Anna is an advocate for making motorsport careers more accessible and believes in building a positive, supportive industry where opportunities are open to all.