Red Bull’s extraordinary F1 season saw them clinch victory in 21 out of 22 races, securing both the constructors’ and drivers’ championships. However, their triumph comes with a financial twist, as the team faces the consequence of paying the highest official entry fee ever to the FIA for the upcoming year.
According to the FIA’s fee structure, Red Bull is required to pay a hefty $7,445,817 in entry fees. Following the season’s success, securing 860 points, Milton Keynes must bear this significant financial burden to compete in the upcoming year’s races.
Since 2013, the FIA has tied entry fees to participants’ previous season performance under the Concorde Agreement. Initially, the base fee for each team was $500,000, along with an additional $5,000 per point. Unfortunately, as per regulations, the winner of the constructors’ championship was required to contribute an additional $1,000, bringing the total to $6,000.
Adding inflation, the amount has significantly risen to $657,837 for the 2024 base fee. Additionally, the per-point fee, which was initially $5,000, has climbed to $6,575 for all teams. This excludes the constructors’ champions, who will now incur a cost of $7,893 per point. Consequently, after an incredible season, Red Bull must submit the full $7,445,817 to the FIA by December 10th to confirm its participation.
Nevertheless, facing the significant upcoming payment, Red Bull boss Christian Horner shared an intriguing perspective. According to Motorsport Total, Horner remarked that the record-breaking fee is substantial, though he also recognized it as an inevitable outcome of their exceptional success.
Expanding on the topic, the Briton commented,
“It’s a luxury problem that we have because we scored so many points. Luckily, it’s out of budget. But yes, it’s a big check that we have to write to the FIA.”
How much will the Red Bull’s rival pay for 2024?
The FIA has intricately linked the F1 entry fee structure to teams’ previous season points, involving a basic fee and additional charges per point. Considering this financial landscape, the F1 teams like Red Bull, Mercedes, and Ferrari are all navigating distinct paths, each facing unique entry fee challenges.
While Red Bull accumulated a substantial 860 points, their rivals failed to secure even half of Milton Keynes’ total. Considering this, Red Bull’s main competitor, Mercedes, concluded with 409 points, resulting in a fee of only $3,347,012. While on the other hand, Ferrari finished the season at P3 with 406 points and will pay a relatively modest fee of $3,327,287.
Considering where Red Bull’s competitors might find some financial relief, the Austrian outfit will still face substantial expenses. In essence, the dynamics of Formula 1 mean that success on the F1 tracks directly correlates to a significant financial burden for the winners.
