Max Verstappen breaks another record with $1 Million fee

Max Verstappen already broke two long-standing records in the quest for his 2nd World Championship title. He broke Michael Schumacher and Sebastian Vettel’s records for most wins in a season by claiming 15 wins in the season.

And in the process, Verstappen also broke the record for most points claimed in a season. And if anyone watched the Dutchman race in 2022, you’d wonder what more records would he rewrite in the coming years!

 

Just ahead of his 2023 campaign, Verstappen has claimed another record. But the only difference is that this time he will be the one shelling out a million bucks instead of earning it.

Also Read: Max Verstappen refuses that he dominated 2022 even though he won the championship with four races remaining

Max Verstappen to pay the most expensive entry fee in F1

Max Verstappen will be heading into the 2023 season as a 2-time World Champion. But to be eligible to defend his crown, the Dutchman will have to pay the most expensive entry fee in F1’s history.

All teams and drivers must pay entry fees before each Formula 1 season. The fee varies on the team or driver’s standings at the end of the 2022 season.

A standard amount of $11000 and $2200 for each Championship point scored. Therefore, your payment will increase in proportion to how many points you have scored this season.

And after an indomitable season with 15 wins and 454 points, the Dutchman’s tally comes up to $1,036,158. This means the two-time champion will be making a record-breaking $1 million payment to compete in the 2023 season.

While Max’s teammate Sergio Perez will be paying $699,470. This means in total, Red Bull will be paying close to $1.7 Million for both their drivers to race.

His 2022 rival, Ferrari’s Charles Leclerc will be paying close to $706,240. Max’s arch-nemesis Lewis Hamilton, will be paying only half of what the Dutchman paid, around 552,745.

The lowest entry fee goes to debutants Williams’s Logan Sargeant, McLaren’s Oscar Piastri and Haas’s Nico Hulkenberg. Quite an expensive sport right?

Also Read: “I know how hard it is to stay at the top” – 103-GP winner Lewis Hamilton reminds Max Verstappen of the ’emptiness’ of persistent success

Why F1 drivers must pay an Entry fee?

Hardcore fans might argue that it is not fair for Max Verstappen to fork out a $1 Million fee to just race in 2022. But the expense dwarfs in front of his $50 Million contract.

Also, it will benefit him as the FIA uses the funds to increase sports safety. But have you ever wondered why F1 drivers have to fork such a hefty fee to race?

The new Super License Fee structure was introduced in 2008 by Former FIA President Max Mosley. Prior to that, drivers paid an annual fee of $1850 and an additional $450 for each point scored in the previous season.

Mosely argued that F1 drivers should be permitted to make a larger contribution because they already make a substantial wage. After all, funds from this “tax” are placed in funds to enhance the safety of the drivers.

This way is a successful outcome in the eyes of the FIA because there are substantial differences in the earnings of all drivers. Less wealthy drivers are more likely to represent weaker teams, which results in lower point totals.

Additionally, drivers at the top of the standings represent top teams and generally make more money.  Therefore, the more points you have scored, the more you have to pay.

Also Read: Max Verstappen can’t be simply beaten by Sergio Perez because of this reason, claims Mexican driver’s former aide