The racing world is reeling from the shocking news that teams and drivers are facing a massive increase in fees to participate in the 2023 World Championship. The Formula One governing body, the FIA, has imposed a massive hike in the fees charged to teams and drivers, which has left many in the industry reeling.
The fees are based on a complex formula that takes into account the previous year’s results, and there has been a substantial increase in the number of points available due to the introduction of sprint races. This means that the cost of entry for teams has skyrocketed, with the FIA set to bank a significant amount more cash from registration fees than before.
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The FIA’s fees per point have not decreased to match the increase in points available. In fact, they’ve gone up significantly! According to the new sporting regulations, teams are required to pay a flat rate of $617,687, plus an increased points fee of $7,441 for the constructors’ world champion and $6,174 for the other nine teams.
And it doesn’t stop there! The drivers’ fees, which are kept under wraps, have skyrocketed by almost 30% from $1,623 to $2,100 per point scored. Adding the flat fee of $16,236, the FIA is raking in a whopping $26,699,573 in registration fees this year.
Unfortunately, it’s Red Bull Racing that’s taking the biggest hit. Having triumphed in both the drivers’ and constructors’ championships with Verstappen and Perez, Red Bull is set to shell out a whopping $6,242,636 just to sign up, plus an additional $969,636 for Verstappen and $656,736 for Perez. That’s nearly $8 million in FIA fees just to be allowed to race!
The staggering bill has left many in the F1 world reeling. Even team boss Christian Horner was left speechless when he received the bill, exclaiming, “I didn’t realize how much we had to pay the FIA for the points. It was incredible.” With so much money at stake, the pressure is on for teams and drivers to deliver a flawless performance on the track. Will they be able to handle the heat and come out on top in the 2023 championship season? Only time will tell.
| Driver | 2022 Points | Base fee | Fee per point | Total fee |
|---|---|---|---|---|
| Verstappen | 454 | 16,236.00 | 2,100.00 | 969,636.00 |
| Leclerc | 308 | 16,236.00 | 2,100.00 | 663,036.00 |
| Perez | 305 | 16,236.00 | 2,100.00 | 656,736.00 |
| Russell | 275 | 16,236.00 | 2,100.00 | 593,736.00 |
| Sainz | 246 | 16,236.00 | 2,100.00 | 532,836.00 |
| Hamilton | 240 | 16,236.00 | 2,100.00 | 520,236.00 |
| Norris | 122 | 16,236.00 | 2,100.00 | 272,436.00 |
| Ocon | 92 | 16,236.00 | 2,100.00 | 209,436.00 |
| Alonso | 81 | 16,236.00 | 2,100.00 | 186,336.00 |
| Bottas | 49 | 16,236.00 | 2,100.00 | 119,136.00 |
| Magnussen | 25 | 16,236.00 | 2,100.00 | 68,736.00 |
| Gasly | 23 | 16,236.00 | 2,100.00 | 64,536.00 |
| Stroll | 18 | 16,236.00 | 2,100.00 | 54,036.00 |
| Tsunoda | 12 | 16,236.00 | 2,100.00 | 41,436.00 |
| Zhou | 6 | 16,236.00 | 2,100.00 | 28,836.00 |
| Albon | 4 | 16,236.00 | 2,100.00 | 24,636.00 |
| De Vries | 2 | 16,236.00 | 2,100.00 | 20,436.00 |
| Piastri | 0 | 16,236.00 | 2,100.00 | 16,236.00 |
| Hülkenberg | 0 | 16,236.00 | 2,100.00 | 16,236.00 |
| Sargeant | 0 | 16,236.00 | 2,100.00 | 16,236.00 |
Speaking out against the rise in fees, Verstappen called the sum “absurd,” and many other drivers and teams have expressed their frustration with the new charges.
It is not entirely clear how the FIA plans to use the revenue generated from the fees, but the governing body has promised to increase funding for grassroots motorsport and road safety projects.
The racing world is left wondering how these fees will impact the future of the sport and whether teams and drivers will be able to afford to continue participating. The 2023 World Championship is shaping up to be one of the most dramatic and controversial seasons in recent history, and the stakes have never been higher.
