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Red Bull set to face an entry fee of $7.4m as a result of their dominant F1 season

The championship winning team are facing a hefty fee that is to be paid to the FIA for next season...

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Red Bull are set to pay a substantial entry fee to the FIA for the 2024 season.

Max Verstappen bidding farewell to the RB19 with victory donuts. Photo credits: Clive Mason via Getty Images
Max Verstappen bidding farewell to the RB19 with victory donuts. Photo credits: Clive Mason via Getty Images

The final flag has fallen for the 2023 season. After 23 races, the year draws so a close.

It has been an incredible season for Red Bull, who won 22 out of 23 races. Accumulating over 800 points in the constructors, with a 451 point advantage over second place. The RB19 has safely secured its place as one of the greatest and most dominant cars in history.

Max Verstappen has been the shining star of F1 this season breaking numerous records throughout the season. Just some of the records he has broken, includes most consecutive wins (10), highest percentage of laps led (75.7%), most consecutive top two finishes (14) and most wins from pole (12).

Red Bull collect their first ever 1-2 finish in the standings. However, after the impressive record-breaking season from the Milton Keynes team, they are now facing a hefty fee to race next season.

Concorde Agreement and the fee for 2024

In 2013, the Concorde Agreement came into play. One of the rules that was stated in this was the FIA would base entry fees for constructors on the number of points they earned during the season. The starting fee would be $500,000 and an added $5000 for every point scored. The winning constructor would pay a bit extra per point with a $6000 fee.

However, with inflation a 6.5% increase has been added to these fees.

With Red Bull’s incredible tally of 860 points, they will be paying approximately $7,445,817 (£5,898,390), which is almost ten times what HAAS in 10th place will be paying. The American team racks up a total of $736,737 (£584,480).

Mercedes who finished in second and scored a total of 409 will be paying approximately $3,347,012 (£2,654,950).

These fees are to be handed over to the FIA before the 10th of December to secure their spot on the 2024 grid.

Verstappen also has to pay for his renewal of his F1 super license – which is set to be at the $1m mark.

After the Abu Dhabi Grand Prix, Christian Horner spoke out about this jaw-dropping fee for next season whilst acknowledging the surreal season the team has had:

“I mean, it’s a luxury problem to have because we’ve had to score the points to generate the invoice,” Horner said speaking to Autosport.

“Thankfully, it’s outside of the budget cap.

“But, yeah, it’s a big cheque to be writing to the FIA.”

Featured image credits: Michael Potts/BSR Agency via Getty Images

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