Formula 1: What’s it like trying to get into Formula 1?

“If it wasn’t for Williams’ support when I first got into Formula 3, it would have been very, very difficult for me to do even one season,” the 21-year-old said.

Despite being at the Williams Driver Academy, he was expected to cover part of the costs himself.

“Williams was very aware of my financial struggles,” he said. “Of course, they only contribute a certain amount to my season, and that came very early in the year, as is quite normal.

O’Sullivan added that it is “up to the driver who brings in the funding”, meaning sponsors are “important” but difficult to find.

“I think any sponsorship you get is either from an extraordinary act of kindness, or from family or friends, or someone who is really passionate about racing or believes in the driver,” he explained.

He described a phenomenon he called “motorsport inflation,” adding that he was “amazed” by the number of people able to race with current costs.

“There are very few regulations controlling how much you can spend,” he said. “So the biggest teams perform the best because they have the most money.

“As long as there are people who want to race and the financial resources to race, teams can set their prices. If people pay, they will continue to raise their prices.”

For example, a top-level, race-winning kart chassis can cost upwards of £4,000 – and that’s without an engine.

O’Sullivan said that in his time in European karting, top teams’ budgets were around £180,000 a year, but that amount has now increased.

“This now comes to around £300,000 with inflation in motorsport, which doesn’t really follow global trends,” he said.

O’Sullivan believes there is “nowhere to hide from” elitism in motorsport, adding: “There are a few cases of drivers making it without money, but you have to be able to get to a level where you are recognized by Formula 1 teams, which are usually European karts, and they are very expensive.”

Having left Formula 2 before the end of 2024, he said Formula 1 was “realistically” no longer his goal and he is currently racing in Japan in the Super Formula series.