FIA receives a staggering amount of $26.7 Million from the 2023 Formula One drivers and teams
FIA collects millions of dollars from F1 teams and drivers before allowing them to compete in the championship.
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Formula 1 teams Ferrari, Mercedes and Red Bull
The Formula One world championship is sanctioned by the FIA ( Fédération Internationale de l’Automobile ). This organisation acts as a governing body for all the events taking place within the sport. In order for them to function and instigate change, they go onto collecting a fee from all the competitors who will be racing every season. This fee is compulsory and failure to pay the fee leads to disqualification from the championship.
Drivers and Teams are charged based on their results in the previous year of the championship. There lies a pre decided fee for every point scored by the team and the driver. Formula One will have 10 teams competing for the 2023 season. Along with that, there will be 23 race weekends over the course of the season. Along with 23 races, the sport will also have 6 sprint races where the drivers have the opportunity to score more points.
After taking a look at the FIA sporting regulations for the 2023 F1 season, a lot of shocking information has been observed. Teams will be required to pay $617,687 plus a fee for every point that they have scored in the previous season. The amount to be paid per point is $7,441 for the constructors’ world champion and from $6,174 for the remaining nine teams.
Red Bull Racing will end up paying the highest amount to the FIA
The Milton Keynes based squad ended up bagging both the drivers and the constructors championship in 2022. This means that the team will end up paying a hefty fee to the FIA. If we assume that the team covers the points expenses for the drivers too then be ready to have your jaws drop. Red Bull will be paying $6,242,636 just for signing up for the 2023 F1 season.
Apart from that, they will have to shell out $969,636 for Max Verstappen and $656,736 for Sergio Perez who placed third in the driver’s championship. This means that the team will end up paying $8 million dollars just to race in the 2023 F1 season. Compared to the Bulls, Williams on the other hand will have to pay a measly $707,951. The list for the exact amount paid to the FIA by all the entrants is given below.
2023 F1 entry fees:
| Team | 2022 Points | Base Fee ($) | Fee per point ($) | Total fee ($) |
|---|---|---|---|---|
| Red Bull | 759 | 617,687.00 | 7,411.00 | 6,242,636.00 |
| Ferrari | 554 | 617,687.00 | 6,174.00 | 4,038,083.00 |
| Mercedes | 515 | 617,687.00 | 6,174.00 | 3,797,297.00 |
| Alpine | 173 | 617,687.00 | 6,174.00 | 1,685,789.00 |
| McLaren | 159 | 617,687.00 | 6,174.00 | 1,599,353.00 |
| Alfa Romeo | 55 | 617,687.00 | 6,174.00 | 957,257.00 |
| Aston Martin | 55 | 617,687.00 | 6,174.00 | 957,257.00 |
| Haas | 37 | 617,687.00 | 6,174.00 | 846,125.00 |
| AlphaTauri | 35 | 617,687.00 | 6,174.00 | 833,777.00 |
| Williams | 8 | 617,687.00 | 6,174.00 | 667,079.00 |
| $21,624,653.00 | ||||
| Driver | 2022 Points | Base fee ($) | 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 |
| Hulkenberg | 0 | 16,236.00 | 2,100.00 | 16,236.00 |
| Sargeant | 0 | 16,236.00 | 2,100.00 | 16,236.00 |
| $5,074,920.00 | ||||
| $26,699,573.00 |
Speaking to ServusTV, Max Verstappen stated that the amount to be paid was “absurd”. He even went on to criticise the decision. “I don’t think it’s right that we have to pay so much,” he said earlier. “It’s not the case in other sports either. And there are more and more races.” It will be interesting to see whether the sum is decreased in the near future. Many in the paddock have been demanding a proper breakdown of how the FIA is using these funds.
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Varad Joshi
(940 Articles Published)