Here’s how much Red Bull, Mercedes, Ferrari’s entry in F1 2024 costs: Up to Rs 62 crore! – Times of India

Winning 21 out of the 22 Grand Prix races that took place in the 2023 Formula 1 season, Red Bull clearly obliterated competition to dominate its way to the constructors’ championship which also saw its first-ever 1-2 finish in drivers’ championship. As a result, the Milton Keynes-based team now has to pay over $7.4 million or about Rs 62 crore for its entry into the 2024 F1 season!
Since 2013, the FIAhas based entry fees for each competitor on the number of points scored in the previous season.Originally, constructors had to pay a base fee of $500,000 (INR 4.17 crore) plus $5,000 (INR 4.17 lakh) per point scored, with the constructors’ champion paying $6,000 (INR 5 lakh). Due to inflation, the base entry fee for 2024 stands at $657,837 (INR 5.48 crore), plus $6,575 (INR 5.48 lakh) per point scored for all teams apart from the constructors’ champion which must pay $7,893 (INR 6.58 lakh) per point from last season.
After scoring a whopping 860 points in 2023, Red Bull’s entry for 2024 will now cost them $7,445,817 or Rs 62.03 crore, which needs to be submitted to the FIA by December 10, 2023 to have its entry confirmed. Red Bull’s dominance means that it has to pay more than the entry fees of runner-up Mercedes and third-placed Ferrari combined!

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Take a look at how much each constructor needs to pay to FIA before December 10 to participate in Formula 1 in 2024 –

Constructor Points (2023) Base fee Per point fee Total
Red Bull 860 Rs 5.48 crore Rs 6.58 lakh Rs 62.03 crore
Mercedes 409 Rs 5.48 crore Rs 5.48 lakh Rs 27.88 crore
Ferrari 406 Rs 5.48 crore Rs 5.48 lakh Rs 27.72 crore
McLaren 302 Rs 5.48 crore Rs 5.48 lakh Rs 22.02 crore
Aston Martin 280 Rs 5.48 crore Rs 5.48 lakh Rs 20.82 crore
Alpine 120 Rs 5.48 crore Rs 5.48 lakh Rs 12.05 crore
Williams 28 Rs 5.48 crore Rs 5.48 lakh Rs 7.01 crore
AlphaTauri 25 Rs 5.48 crore Rs 5.48 lakh Rs 6.85 crore
Alfa Romeo 16 Rs 5.48 crore Rs 5.48 lakh Rs 6.36 crore
Haas 12 Rs 5.48 crore Rs 5.48 lakh Rs 6.14 crore

Talking about the record-breaking fee that Red Bull is paying to FIA for the 2024 F1 season with, team principal Christian Horner said, “It’s a luxury problem to have because we’ve had to score the points to generate the invoice. Thankfully, it’s outside of the budget cap. But, yeah, it’s a big cheque to be writing to the FIA.”

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