FIA introduce huge F1 team entrance fee increase.
Discussion
Sounds like the FIA want to redecorate their HQ and stock it up with champagne going by their new entrance fee price hike.
This year every team paid a standard rate of 309,000 Euro ($397,899) to enter F1. From next year it will be based on a standard fee of $500,000 US plus $6000 US per point gained in the standings.
Which could mean if you took the 2011 total points as an example.
This year every team paid a standard rate of 309,000 Euro ($397,899) to enter F1. From next year it will be based on a standard fee of $500,000 US plus $6000 US per point gained in the standings.
Which could mean if you took the 2011 total points as an example.
Autosport said:
Red Bull (650 points) $4.400 million
McLaren (497 points) $2.985 million
Ferrari (375 points) $2.375 million
Mercedes (165 points) $1.325 million
Lotus (73 points) $865,000
Force India (69 points) $845,000
Sauber (44 points) $720,000
Toro Rosso (41 points) $705,000
Williams (5 points) $525,000
Caterham (0 points) $500,000
HRT (0 points) $500,000
Marussia (0 points) $500,000
The updated Sporting Regulations do not lay out a final entry deadline for teams, but do state that teams must pay the entry fee by November 30.
The FIA's decision to increase entry fees comes amid a push by the governing body to increase the revenue it gets from the sport - with it believed to be chasing a total income of $40 million per season as part of a new commercial structure.
The total revenue generated by the entry fees will be at least $16.3 million, with AUTOSPORT also understanding that the governing body is close to agreeing a $24 million payment from commercial supremo Bernie Ecclestone as part of a Concorde Agreement deal.
These payments, allied to an increase in F1 Super Licence fees for drivers, will help the FIA hit its revenue target.
Don't you just love the FIA's idea of cost cutting.McLaren (497 points) $2.985 million
Ferrari (375 points) $2.375 million
Mercedes (165 points) $1.325 million
Lotus (73 points) $865,000
Force India (69 points) $845,000
Sauber (44 points) $720,000
Toro Rosso (41 points) $705,000
Williams (5 points) $525,000
Caterham (0 points) $500,000
HRT (0 points) $500,000
Marussia (0 points) $500,000
The updated Sporting Regulations do not lay out a final entry deadline for teams, but do state that teams must pay the entry fee by November 30.
The FIA's decision to increase entry fees comes amid a push by the governing body to increase the revenue it gets from the sport - with it believed to be chasing a total income of $40 million per season as part of a new commercial structure.
The total revenue generated by the entry fees will be at least $16.3 million, with AUTOSPORT also understanding that the governing body is close to agreeing a $24 million payment from commercial supremo Bernie Ecclestone as part of a Concorde Agreement deal.
These payments, allied to an increase in F1 Super Licence fees for drivers, will help the FIA hit its revenue target.
FourWheelDrift said:
Sounds like the FIA want to redecorate their HQ and stock it up with champagne going by their new entrance fee price hike.
This year every team paid a standard rate of 309,000 Euro ($397,899) to enter F1. From next year it will be based on a standard fee of $500,000 US plus $6000 US per point gained in the standings.
How convenient that we moved to the new 25 points for a win system eh?This year every team paid a standard rate of 309,000 Euro ($397,899) to enter F1. From next year it will be based on a standard fee of $500,000 US plus $6000 US per point gained in the standings.
hornet said:
FourWheelDrift said:
Sounds like the FIA want to redecorate their HQ and stock it up with champagne going by their new entrance fee price hike.
This year every team paid a standard rate of 309,000 Euro ($397,899) to enter F1. From next year it will be based on a standard fee of $500,000 US plus $6000 US per point gained in the standings.
How convenient that we moved to the new 25 points for a win system eh?This year every team paid a standard rate of 309,000 Euro ($397,899) to enter F1. From next year it will be based on a standard fee of $500,000 US plus $6000 US per point gained in the standings.
And the FIA will earn $606,000 in points fees per race..... nice!
hornet said:
How convenient that we moved to the new 25 points for a win system eh?
Are you suggesting that the fees have been set without thought to the number of points awarded? I.e. that if the immediately previous points system had still been in place, that the fees per point would be the same, not higher?Life Saab Itch said:
Well they have other income after Moseley sold all their (considerable) assets for a pittance.
That is the reason. They need income from somewhere and their incoe from F1 has dropped.I would imagine thate concord agreemen migh ell have these fees included.
Ecclestone accused the FIA of tryin to live beyond their means when he had taken all their means.
The FIA increased super licences but that was a pittance to the money that went to Ecclestone.
I suppose the paying per point system is quite a neat way of getting the richer teams to pay more. However it seems a bit harsh on teams in the middle like Sauber and Force India who quietly rack up a good haul of points, but get only a fraction of the coverage of the likes of Ferrari and Red Bull.
PW said:
Munter said:
The teams get a pay out per point at the end of the season right? Is that bigger or smaller than the $6000 the FIA are asking?
Joe Saward did a break down of prize money a few months ago - have a look at his blog.http://joesaward.wordpress.com/2012/10/09/the-valu...
So last place in the table at the end of the year gets 4% of half the prize money pot (341 million in 2011). So over 13 million just for turning up and racing to be dead last. Enough to cover Red Bulls points tally from last year with some significant change left over.
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