You are here

News

Formula One teams 'face steep hike in entry fees'

ABU DHABI (AFP)

The International Automobile Federation (FIA) has told top teams in Formula One that they face a steep rise in entry fees next season, autosport.com said on Friday.

The sport's ruling body's new regulations for 2013 stipulate that the constructors' champions have to pay a $500,000 basic fee plus $6,000 for every point won, while every other team will have to pay $500,000 plus $5000 per point.

Last year, the standard entry fee was just under $400,000.

Based on last year's final championship standings, champions Red Bull will have to pay an entry fee of $4.4 million after they won 650 points. McLaren face a $2.98 million bill and Ferrari $2.3 million, while Mercedes would pay $1.3 million.

The fees -- part of an FIA drive to increase revenue from Formula One -- are payable by November 30, the magazine said.

Newsletter AFP

Subscribe to AFP newsletter

AFP's worldwide network

The global network of Agence France Presse covers 150 countries

find out more

Contact us

If you have news to share or a question, comment or suggestion, contact us via...