Red Bull F1 entry fee rises to $7.4 million

• Red Bull is facing a hefty entry fee for the 2024 F1 season
• The team won 21 of the 22 races this year
• This is the highest ever entry fee in F1 history

Red Bull is facing a hefty entry fee for the 2024 F1 season after its dominant performance in 2023.

The team, which won 21 of the 22 races this year, will have to pay a staggering $7,445,817 to the FIA by December 10 to secure its place on the grid next year.

This is the highest ever entry fee in F1 history based on the number of points scored in the previous season, with Red Bull’s 860 points eclipsing the previous record haul of 765 points set by Mercedes in 2016.

Red Bull’s remarkable season saw its driver Max Verstappen secure both world championship titles and winning an astonishing 21 out of 22 races, amassing a staggering 860 points.

This triumph, however, comes at a cost, as the FIA’s entry fees are calculated based on the previous season’s performance.

Red Bull F1 Entry Fee

Since the revised Concorde Agreement in 2013, the entry fee comprises a base amount plus a per-point charge.

Red Bull driver Max Verstappen PrixPhoto/PlanetF1

For the 2024 season, the base fee stands at $657,837, with an additional $6575 per point for all teams except the constructors’ champion, which must pay $7893 per point.

Red Bull’s dominance this year was truly remarkable. The team not only won the most races in a single season, but it also broke a number of records, including most points scored (860), most wins by a single driver (19), and most laps led by a single driver (1,000).

While the Milton Keynes team is undoubtedly proud of its achievements, it will also have to pay a hefty price for its success.

The entry fee for the 2024 season is significantly higher than in previous years, and it is likely to put a strain on Red Bull’s finances.

The scale of Red Bull’s triumph is further emphasized by the fact that its incredible season was only marred by a single race – the Singapore Grand Prix.

Team Principal Christian Horner, however, remains pragmatic, stating that there is no sense of annoyance about missing out on a historic clean sweep of every race.

“No. It leaves you humbled that there is still something to strive for, and it’s a useful lesson that things can change quickly. Singapore was a standout weekend,” Horner expressed.

He highlighted the team’s remarkable achievements, acknowledging the extraordinary statistics that Verstappen, Red Bull’s lead driver, accomplished throughout the season.

“To win 21 out of the 22 races is insanity. For Max to have led over 1000 laps, for him to have won 19 races, to have broken McLaren’s record from ’88, to have broken Seb’s [Vettel] record from 2013 – the win ratios, all the percentages that he’s hit,” Horner stated.

Red Bull dominated the 2023 season. Photo/Eurosport

Despite the high cost, Red Bull is confident that it can continue its success in 2024. The team has a strong driver lineup in Verstappen and Sergio Perez.

It is also expected to benefit from the new technical regulations that are being introduced next year. Whether or not Red Bull can maintain its dominance in 2024 remains to be seen. But one thing is for sure: the team will have to pay a hefty price for its success this year.

In addition, the entry fee for the F1 2023 season also affects other teams on the grid. Second-placed Mercedes will pay $3,347,012, while third-placed Ferrari will pay $3,327,287.

Other F1 teams will pay as follows:

Formula One teams pay an entry fee to the FIA to cover the costs of organizing the championship, including race tracks and safety measures. It also acts as a deterrent for new teams, ensuring serious contenders.

Additionally, the fee generates revenue for the non-profit FIA, helping cover its expenses. The fee is performance-based, ensuring teams pay their fair share based on the points earned in the previous season, contributing to the sustainability and success of the Formula One World Championship.