Red Bull faces 1000% rise in FIA entry fee as governing body hikes prices

Formula One teams will have to dig deep if they’re to compete next season, under a new proposal put forward by the FIA.

The governing body has proposed an increase in the entry fee for the 2013 season from £245,000 to an expected £308,000 according to Autosport.

However, the better a team does in its previous season, the worse off it is under the new system. The FIA, for the first time, will charge the teams an additional £3,080 (£3,700 for the winning constructor) per point it scores in the previous year.

In the case of Red Bull, who currently lead the constructors’ championship, they will have to pay £2.7 million to compete in 2013, compared to just £245,000 for 2012.

That’s an increase of over 1000%.

The smaller teams will obviously pay less, whilst the newcomers (Caterham, Marussia and HRT) will have to pay the standard £308,000 fee as they score zero points in 2011.

In total, the FIA would bring in just under £10 million compared to its usual £3 million, which is used to run the organisation and pay for safety initiatives.

It’s also reported that Jean Todt has demanded an additional £15 million from Bernie Ecclestone via the new Concorde Agreement which is close to unanimous agreement.

The figures are yet to be confirmed however, with the 2013 Sporting Regulations simply stating ‘TBA’ where the fee is usually specified.

Source: The F1 Times

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s