Formula 1 to set new entry fee at $600 million

With new teams reportedly eyeing up an opportunity to join the Formula 1 grid, the sport’s bosses are increasing the cost of entry.

Formula 1 is famously an expensive sport for teams but it is set to get costlier in the future, as the FIA increases the price of entry.

Having launched an entry process back in February, scheduled to end in June, the FIA currently charges a $200 million “anti-dilution fee” for any team that wishes to joining the grid alongside the existing 10 teams.

That fee is designed to compensate the current teams for potential losses they will suffer with another team taking some of the income they are currently allocated.

The $200 million fee was reportedly decided when the Concorde Agreement was last signed in 2021, reflecting the value of Williams, the lowest ranked team.

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The new figure thought to be under consideration could be as high as $600 million according to

“The process of having another team has been launched by the FIA,” Formula 1 CEO Stefano Domenicali told F1 investors. 

“In our governance, in our Concorde, there’s a possibility to do it.

“But the evaluation has to be done together to see from the technical perspective, from the sporting perspective, for the financial stability, and to make the bigger picture, if a new team will give value to the league, to the sport. And there will be a different position.

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“And I go back to one point, the so-called anti-dilution payment was done at $200 million, just a couple of years ago. 

“Because at that time no one would have expected that the value of this business would rise up so much.

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“Today the situation is totally different, for sure. And it’s our duty to make sure that we protect the business the best way that we can, and have a bigger picture.”

The rise in the value of Formula 1 and a place on the grid is attributed to the success the sport has found in America following the launch of the Netflix series ‘Drive to Survive’.

Now in its fifth season, with a sixth on the way, ‘Drive to Survive’ takes viewers behind the scenes of the dramatic twists and turns throughout the Formula 1 season.