Advert

Teams face entry fee hike for 2013

Formula One teams face a stiff hike in entry fees for next year’s championship with the winning constructor having to pay $6,000 for every point scored this season as well as a basic charge of $500,000.

The FIA spelled out the new fee structure in Appendix seven of the 2013 sporting regulations published without fanfare on their website.

“The winner of the 2012 World Championship for Constructors will be required to pay a basic fee of $500,000 plus $6,000 for each point gained in the 2012 (cham-pionship),” it declared.

“Every other competitor will be required to pay a basic fee of $500,000 plus $5,000 for each point.”

The basic fee must be paid at the time of application and the remainder by November 30, five days after the championship ends in Brazil.

The entry fees charged for this season were $399,800 per team with no additional payments required for points scored in the previous year.

Had the new charges been imposed at the end of last season, champions Red Bull would have had to shell out a total of $4.4 million after scoring 650 points.

The changed entry fees will hit hardest those smaller teams who have limited budgets but have punched above their weight this season.

Swiss-based Sauber, who have had four podium finishes, face a payment of at least $1.08 million on current points scored.

Advert

Comments are submitted under the express understanding and condition that the editor may, and is authorised to, disclose any/all of the above personal information to any person or entity requesting the information for the purposes of legal action on grounds that such person or entity is aggrieved by any comment so submitted.

At this time your comment will not be displayed immediately upon posting. Please allow some time for your comment to be moderated before it is displayed.

For more details please see our Comments Policy

Comments not loading? We recommend using Google Chrome or Mozilla Firefox with javascript turned on.
Comments powered by Disqus
Advert
Advert