Following their remarkable 2023 campaign, Red Bull are going to have to pay the FIA a staggering $7.4 million, to enter Formula 1 next season.
With the 2023 season having drawn to a close last weekend at the Abu Dhabi Grand Prix, it’s now known how much each time must pay to be on the grid next season.
Each team’s fee is dependent on the number of points they scored, with those who scored very few points having to pay significantly less than those at the top of the Constructors’ Championship.
Regardless of how many points each side scores, every team in the paddock has to pay a set fee of $657,837.
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On top of that figure, every side except Red Bull, must pay an additional $6,575 per point scored in 2023, to race in 2024.
Red Bull have to pay the FIA $7,893 per-point scored in 2023.
As Red Bull claimed an unbelievable 860 points this year, they have to pay the governing body exactly $7,445,817, just under $800,000 more than they had to pay to enter the sport this year.
All payments must be paid by December 10, in order to remain on the grid in 2024.
Success in F1 certainly comes at a price, although Red Bull will receive the most prize money for having topped the Constructors’ Championship.
On the flip side, Haas will receive the least amount of money from the prize fund after they finished last in the 2023 standings, as a result of only scoring 12 points.
With this in mind, Haas only have to pay the FIA $736,737 to be on the grid in 2024
This is around $132,000 less than they had to give the governing body to enter the championship this year.
Focusing on the leading teams, Red Bull’s 2024 entry fee is more than double what Mercedes will have to fork out, as their figure stands at $3,347.012.
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As the Silver Arrows claimed second in the standings by just three points over Ferrari, the Maranello-based side’s fee is just $19,725 less than Mercedes’.
To highlight just how many points Red Bull scored in 2023, their 2024 entry fee is more than McLaren’s, Aston Martin’s, Alpine’s and Williams’ combined.
2024 entry fees:
- Red Bull – $7,445,817
- Mercedes – $3,347,012
- Ferrari – $3,327,287
- McLaren – $2,643,747
- Aston Martin – $2,498,837
- Alpine – $1,446,837
- Williams – $841,937
- AlphaTauri – $822,212
- Alfa Romeo – $763,037
- Haas – $736,737